Internal Controls and Performance of Selected Tertiary Institutions in Ekiti State: A Committee of Sponsoring Organisations (COSO) Framework Approach

Gideon Tayo Akinleye and Adebola Daniel Kolawole

International Journal of Financial Research, 2020, vol. 11, issue 1, 405-416

Abstract: This study examined the effect of internal controls on performance of selected tertiary institutions in Ekiti state using a committee of sponsoring organisations (COSO) framework approach. The study employed a survey research design. Primary data were obtained and analysed using multiple regression analysis. Findings from the study showed that the overall influence of COSO components of internal control on performance of selected tertiary institutions in Ekiti state was significantly positive. However, Control activities (CA) (t = 2.487, p = 0.013 0.05) and Risk assessment (RA) (t = 0.446, p = 0.656 > 0.05) had positive but insignificant effect on organisational performance of the selected tertiary institutions. The study concluded that internal control had a positive effect on performance and was statistically significant in explaining performance of selected tertiary institutions in Ekiti state. The study thus recommended that those charged with governance in tertiary institutions should strengthen the highlighted components of internal controls.

Keywords: COSO framework; internal controls; performance; tertiary institutions (search for similar items in EconPapers)
Date: 2020
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Citations: View citations in EconPapers (2)

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Persistent link: https://EconPapers.repec.org/RePEc:jfr:ijfr11:v:11:y:2020:i:1:p:405-416

DOI: 10.5430/ijfr.v11n1p405

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