For correspondence:-
Received: May 12, 2021 Accepted: June 25, 2021 Published: June 30, 2021
Citation: Internal Control Structures and Financial Performance: Evidence from Listed Companies in Nigeria's South-West Region. Account Tax Rev 2006; 5(2):79-103 doi:
© 2006 The authors.
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Abstract
The primary goal of this research was to examine the internal control mechanisms and financial results of listed companies in Nigeria's southwest area. The research framework was developed primarily based on a thorough review of the literature and compliance with stakeholder theory. The research used multi-level random sampling and multiple regression models to determine if internal audit control, control processes, risk management control, the control environment, and monitoring practises impacted financial performance. The findings indicated a favourable association between internal audit control, risk management, monitoring practises and operational performance, pointing to the objectives. Mmonitoring practices and control environments have a significant negative impact on asset returns. This analysis would be helpful to corporate managers because it demonstrates the elements that are overlooked in internal control systems and strategies to improve the performance of the internal control system. Policymakers and other stakeholders will have access to the critical role of internal management in the company's performance. The study affected the inculcation of empirical and inductive logic and ethical attitudes and thought growth in all organisational employees.
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