The Impact of Internal Control Systems on Corporate Performance among Listed Firms in Ghana: The Moderating Role of Information Technology

Abstract

Purpose The study empirically examines the impact of internal control systems on performance among listed firms in Ghana and the moderating role of information technology.Design/methodology/approach A survey was conducted among top corporate executives of listed companies from different industrial sectors. The questionnaire data was analyzed using the structural equation model.Findings The study shows that there is a significant relationship between internal control systems (control environment, control activity, information, and communication) and the company’s performance, measured by overall profitability. The results also indicate that information technology moderates the positive relationship between internal control and business performance. Nonetheless, the interaction effect was stronger for the control environment and control activities than the other internal control dimensions.Originality In the context of developing countries and Ghana in particular where the implementation of information technology is still in infancy, few studies have explored the moderating role of information technology in the relationship between internal control systems and performance.

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