Title: Nexus between the COSO framework and the effectiveness of internal control systems: public universities' perspectives

Authors: Prince Gyimah; Janet Acheampong Otoo; Senanu Zoiku; Emmanuel Ohene Krapah

Addresses: Department of Accounting Studies Education, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development, P.O. Box 1277, Kumasi, Ghana ' Finance Directorate, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development, P.O. Box 1277, Kumasi, Ghana ' Finance Directorate, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development, P.O. Box 1277, Kumasi, Ghana ' Finance Directorate, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development, P.O. Box 1277, Kumasi, Ghana

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.

Keywords: Committee of Sponsoring Organizations of the Treadway Commission (COSO); internal control systems; auditing; public sector accounting; emerging markets.

DOI: 10.1504/EMJM.2022.127445

EuroMed Journal of Management, 2022 Vol.4 No.4, pp.315 - 331

Received: 16 Mar 2022
Accepted: 21 May 2022
Published online: 05 Dec 2022 *

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