Risk Management, Internal Audit Effectiveness and Performance of Ghanaian Universities: Views of University of Cape Coast Accounting Students

Abstract

This research evaluated University accounting student’s perception of the risk management and performance of Ghanaian universities and the moderating role of internal audit practices with the focus on the University of Cape Coast. The study employed the explanatory research design to achieve the aim and the objectives of the research objectives. A population of 1200 students was used from the Department of Accounting where 291 students were chosen as the sample size of the study. However, out of the 291, 152 students accepted the invitation to participate in the research. Data were collected with a questionnaire and processed and analysed using descriptive and inferential statistics. According to the study findings, the University of Cape Coast ensures good risk management and internal audit effectiveness. Also, risk management (reputational and operational risk) showed a positive significant influence on performance (quality of service) of the university. Likewise, the moderating factor (internal audit) showed a positive influence on the performance (quality of service) of the university. The study, therefore, suggests that Ghanaian public universities should stress the need for risk management, incorporate them in their strategic plan and make it priority in their decision-making. This will help them to stay competitive in the African continent and the world at large. Also, this study will contribute to and help encourage the practice of sound internal audit to help reduce the risk exposed to the university and improve their performance at large.