Nexus between the COSO framework and the effectiveness of internal control systems: public universities' perspectives
by Prince Gyimah; Janet Acheampong Otoo; Senanu Zoiku; Emmanuel Ohene Krapah
EuroMed J. of Management (EMJM), Vol. 4, No. 4, 2022

Abstract: The study employs the 2013 Internal Control-Integrated Framework of the Committee of Sponsoring Organizations of the Treadway Commission (COSO) to examine whether control environment, control activities, risk assessment, information and communication, and monitoring activities affect the effectiveness of internal control systems in public universities in an emerging market. The methodology is quantitative survey research using an ordinary least square regression model to test the five components of the COSO framework with a sample of 175 respondents from public universities in an emerging market. The findings support that the control environment, risk assessment, monitoring activities, and use of technology are significant factors influencing internal control systems. However, information and communication inversely affect the internal control systems, and control activity does not affect the internal control systems of public universities. Implications for theory, management, government, policymakers, auditors, and other stakeholders are presented.

Online publication date: Mon, 05-Dec-2022

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