Internal Control Systems and Performance of Life Insurers: Ghanaian Case

Life insurance companies are very crucial in the mobilisation of financial resources in a country, and therefore have a tremendous impact on the economic growth and financial stability of the country. The importance of internal control mechanisms in achieving these goals cannot be overemphasized. Despite the growing trend in internal control systems in financial institutions, there is little knowledge on the internal control practices that exist within life insurance companies in Ghana and how these influence their performances. It is against this background that this study set out to fill this gap. The main objective of this study is to examine the effect of internal control mechanisms on the performance of life insurers in Ghana. The multiple regression analysis was used to establish the statistical relationship between the COSO framework of internal control system and the performance of the Ghanaian life insurers. The findings from this study showed that internal control mechanisms have positive and unique contribution to explaining the performance of life insurance companies in Ghana. The study recommends among others that the life insurance firms need to improve upon the core principles of the various components of the COSO internal control integrated framework. For instance, with regards to the control environment, the insurance firms should demonstrate commitment to integrity and ethical values; they should exercise oversight responsibility, establish structure, authority, and responsibility, demonstrates commitment to competence, and enforce accountability throughout the firms. Keywords Ghana life insurance industry, internal control systems, firm performance DOI: 10.7176/RJFA/11-18-11 Publication date:September 30th 202

THE EFFICIENCY EXTENT OF THE INTERNAL CONTROL ENVIRONMENT IN THE PALESTINIAN HIGHER EDUCATIONAL INSTITUTIONS IN GAZA STRIP

The purpose of this research is to identify the extent of the efficiency of the internal control environment in the Palestinian higher educational institutions in Gaza Strip from the perspective of employees in the Palestinian universities in Gaza Strip, where researchers used in the study five universities. The researchers adopted in their study the descriptive and analytical approach. The research community consists of administrative employees and academic employees with administrative duties. Senior management or the University Council was excluded. The study population compromises of (392) employees. A stratified random sample was chosen and (197) questionnaires were distributed. (160) questionnaires were received back with a return rate of (81.2%).The researchers used a questionnaire to collect that which then was analyzed using (SPSS) to get the results. The research found the following results: the absence of a fundamental difference between the responses of males and females. The lack of significant difference between the responses of the respondents attributed to the variable age. The lack of significant difference between the responses of the respondents attributed to the variable of years of service. And the existence of a fundamental difference between the responses of the respondents attributed to the university variable. The existence of a fundamental difference between the responses of the respondents attributed to the Qualification variable. The existence of a fundamental difference between the responses of the respondents attributed to the administrative level variable. The research found a group of recommendations including: the need to raise awareness of censorship as the basis for the protection of employees in all administrative levels from making mistake.Updating the systems and instructions of control periodically and parallel with the scientific progress and technology.Benefit from regional and international experiences in the application of internal control standards which commensurate with the administrative system of the institution

Managing Well Integrity using Reliability Based Models

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A security analysis of version 2 of the Network Time Protocol (NTP): A report to the privacy and security research group

The Network Time Protocol is being used throughout the Internet to provide an accurate time service. The security requirements are examined of such a service, version 2 of the NTP protocol is analyzed to determine how well it meets these requirements, and improvements are suggested where appropriate

Lessons from Health Care Fraud Cases: Implications for Management of Health Care Entities

Fraud has been a major issue all throughout the health care industry. There have been many cases around the world in relation to health care fraud. There are several laws now that do try to reduce the amount of healthcare fraud, but more changes could and should be made to reduce it even more. Four different cases that have occurred within the health care industry have be analyzed in this project. It looks at the positives and negatives of each company’s internal control structure and provides suggestions for how to improve these internal controls to prevent fraud from reoccurring in the health care industry. It also gives examples of other requirements that can be put in place in order to reduce the amount of fraud that occurs. Fraud is very common within the health care industry due to weaknesses within the companies’ internal control systems and many improvements should be made in order to prevent fraud from continuing to occur in the future

Behavioral integrity for safety, priority of safety, psychological safety, and patient safety: a team-level study

This article clarifies how leader behavioral integrity for safety helps solve follower's double bind between adhering to safety protocols and speaking up about mistakes against protocols. Path modeling of survey data in 54 nursing teams showed that head nurse behavioral integrity for safety positively relates to both team priority of safety and psychological safety. In turn, team priority of safety and team psychological safety were, respectively, negatively and positively related with the number of treatment errors that were reported to head nurses. We further demonstrated an interaction effect between team priority of safety and psychological safety on reported errors such that the relationship between team priority of safety and the number of errors was stronger for higher levels of team psychological safety. Finally, we showed that both team priority of safety and team psychological safety mediated the relationship between leader behavioral integrity for safety and reported treatment errors. These results suggest that although adhering to safety protocols and admitting mistakes against those protocols show opposite relations to reported treatment errors, both are important to improving patient safety and both are fostered by leaders who walk their safety talk