Corporate Governance in the Public Sector of Ghana: The Role of Audit Committees in the Covered Entities

Leo Moses Twum-Barima and Ernest Frempong
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Leo Moses Twum-Barima: Accountant, Finance Unit University of Mines and Technology, P. O. Box 237, Tarkwa, Ghana
Ernest Frempong: Assistant Internal Auditor, Audit Unit University of Mines and Technology, P. O. Box 237, Tarkwa, Ghana

International Journal of Research and Innovation in Social Science, 2023, vol. 7, issue 8, 190-202

Abstract: Corporate governance sets the tone at the top by bringing efficiency and effectiveness in managing covered entities. It minimises risks and prevents fraud thereby protecting the public purse. However, applying the concept of corporate governance has met some challenges. The population of the study was Audit Committee members of covered entities and purposive method of sampling was used to select 50 Audit Committee members for the study. Likert type five scale response questionnaire was used to collect data and hypothesis was statistically tested using analysis of variance technique to address the research question. It was found out that the Audit Committees perform differently from one entity to another. Some do not follow the Audit Committee Guidelines.

Date: 2023
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