The Effect of Internal Control Mechanisms on Financial Performance of Commercial Banks in Ghana

The main objective of the study was to examine the effect of internal control mechanisms on financial performance of commercial banks in Ghana (Republic Bank, Cal Bank and Prudential Bank). The specific objectives of the study were;

1. To determine the effect of control environment on financial performance of commercial banks.
2. To examine the effect of control activities on financial performance of commercial banks.
3. To analyse the effect of risk assessment on financial performance of commercial banks.
4. To assess the effect of information and communication on financial performance of commercial banks.
5. To examine the effect of monitoring on financial performance of commercial banks.

The study adopted a descriptive survey approach and was purely quantitative in nature. The study sampled 50 employees out of the three banks. Purposive sampling was adopted for the study. The type of data collected was primary data through questionnaires. The study used Statistical Package for Social Sciences Version 21.0 to aid in data analysis.