The Role of Internal Audit in Risk Identification and Management: The Case of a Publicly Funded University in Ghana

Risk management is an integral part of the organizational process effected by an entity's management and personnel. It is designed to identify and address risks and to provide reasonable assurance in pursuit of the entity's mission. Risk management is to an organization’s strategic management as it raises the probability of success, and reduces both the probability of failure and the uncertainty of achieving the organization’s overall objectives. This study is set to ascertain the role of Internal Audit in risk identification, analysis and management in a Public University in Ghana. This single case study is situated at University of Mines and Technology (UMaT), Tarkwa. The research goes beyond the evidence in the public domain and includes questionnaire and interview of key personnel for data collection. The research revealed that, Internal Audit function plays an important role in making risk management at UMaT effective by carrying out activities such as pre-audit, revenue checking, updating procedures, provision of recommendations, and ensuring policies and procedures are complied. These go a long way to contribute to the achievement of the University objectives. Financial risk is found to be the major risk that threatens the operations of the University. The questionnaire administration indicated more than 77% of respondents agreed that the Internal Audit helps to reduce risk, conducts regular evaluation and review of risk, has qualified staff and management considers recommendations made by the unit as valuable. Respondents were, however, critical regarding professional training of staff, low percentages of respondents (30% and below) agreed to assertions in areas such as professional training of staff, adequate logistics and staff strength. It is recommended that there should be a documented risk management policy and when possible size of the Internal Audit staff should be increased to enable wider coverage of audit activity within the University be carried within the shortest possible time to ensure timeliness and relevance. In addition, staff should be encouraged to attend professional training periodically. Keywords: Risk Management; Organization; Internal Audit DOI: 10.7176/RJFA/11-12-11 Publication date:June 30th 202

Determinants of Dividend Policy among Banks Listed on the Ghana Stock Exchange

Purpose: The concept of dividend policy has been widely researched by scholars, however, a consensus on the factors that determine dividend policies among firms has not been yet established as findings differ depending on the industry and sector. This study aims to contribute to the stock of literature already available by observing the major factors that affect dividend decisions of banks listed on the Ghana Stock Exchange (GSE). Methodology: The study employed secondary data extracted from published financial statements of the listed banks over a 10year period. Data was also extracted from the 2015 Ghana Banking Survey Report and the 2015 Bank of Ghana annual financial report. The study was conducted on seven banks which were listed on the GSE. The study used a panel data framework constructed from secondary data of the banks between the years 2006 – 2015 using Ordinary Least Squares model to estimate the regression equation. Findings: The findings of the study showed that Returns on Asset (ROA) which represents profitability ratio was significant and a positive predictor of dividend payment among listed banks on the GSE. Other significant determinant of dividend payments include free cash flow, the leverage level of the banks, the banks ratio of non-performing loans to total administered loans (NPL/TA), the average level of inflation and Bank of Ghana’s policy rate (BPR). Number of bank branches (BBR) was found to have no significant relationship with Dividend payment by banks.Study Contribution: The study revealed that NPL/TA and BPR has negative and strong influence on dividend payment among listed banks on the GSE. No relationship existed between BBR and DPS hence the number of branches owned by listed banks does not affect their dividend payments. Banks must therefore improve on their credit risk management techniques to improve profitability in order to maintain sustainable payment of dividends. Bank of Ghana must also maintain lower BPR since high BPR was found to negatively affect payment of dividend.Recommendations: The study recommends that, future studies should include more independent variables, more banks and as well increase the years for the time series data. Future studies can also consider and compare the determinants of dividend payments among banks in Africa. Keywords: Dividend policy, Banks, Ghana Stock Exchang

Synthesis and Characterization of CdSe Nanocrystalline Thin Film by Chemical Bath Deposition Technique

A well adherent nanocrystalline thin film of cadmium selenide (CdSe) has been successfully deposited from chemical bath containing cadmium acetate, tartaric acid, ammonia and sodium selenosulphate, at a bath temperature of 85 0C and a pH of 9.5. The films were characterized using a variety of techniques. Powder X-ray diffraction revealed a cubic phase of CdSe nanocrystalline thin film with preferred orientation along the (111) plane. The SEM micrographs showed the film surface was composed of spherically shaped grains over the entire glass substrate. The elemental composition of the thin film was confirmed by energy dispersive X-ray spectroscopy. The optical band gap energy was found to be 1.86 eV

Corporate Social Responsibility (CSR) and Financial Performance: A Critical Assessment of Oil Marketing Companies in Ghana

The study focuses on unravelling the dynamics behind organizations investment into Corporate Social Responsibility (CSR) and its effect on financial performances. The study examined a 6year (2010 – 2016) CSR activities of five selected oil companies in Ghana. Through the use of fixed-effect panel regression model, the study shows that CSR have differential effects on different indicators of financial performance measured in terms of ROA, ROE and ROCE. CSR activities was found to have positive significant association with ROCE but failed to predict same association with ROA and ROE which remain one of the major performance indicators. Never the less, communication on the social and environmental impacts of CSR was found to be positively associated with improvement in ROA and ROE but not ROCE. The study recommends future studies to examine the impact of CSR on non-financial performance indicators of the sampled organization. Keywords: Corporate Social Responsibility, Financial Performance, Oil Marketing Companies, Ghan

Design and Evaluation of an Affordable Drip Irrigation System for Backyard Garden in the Forest-Savannah Transition Zone of Ghana

The paper sought to design and evaluate a simple and affordable drip irrigation system for improving yield in backyard maize in Ghana. The design consisted of locally made system using easily available materials. The system was calibrated to obtain uniform flow. Hydraulic performance of the system was determined. A Randomize Complete Block Design with three depth treatments (T1=0cm, T2= 20cm and T3 = 40cm) and four replications was used. Plant parameters such as height, leaf length, leaf diameter and stem girth were measured weekly. The uniformity coefficient (UC) ranged from 98 to 99.8% signifying excellent water uniformity application. However, Flow and Coefficient of Variation (CV) values were below standard (ranged between 57.62 % to 60.60 % and 19.8 % to 23 % respectively) due to variation in pressure head. Maize growth under the developed drip lines gave good results in all the growth parameters and yield except the T3 but were statistically similar in all the treatments.

Assessing the Use of Standardized Outcome Measures for Stroke Rehabilitation among Physiotherapists in Ghana

Background. The use of standardized outcome measures is an aspect of good clinical practice and essential to the rehabilitation of patients suffering from stroke. Literature reports regarding the extent of usage of outcome measures in stroke rehabilitation by physiotherapists globally are inconsistent. In addition, the patronage of outcome measures in stroke rehabilitation in low-resourced countries is uncertain. Objective. This study was conducted to assess the current practice of physiotherapists in Ghana regarding the use of standardized outcome measures in the rehabilitation of stroke patients. Method. A descriptive cross-sectional survey, was used involving 105 registered physiotherapists in Ghana. A 35-item adapted questionnaire was used to collect data on some commonly used outcome measures and frequency of use by physiotherapists for stroke patients. Results. A total of 55 (52.4%) physiotherapists did not use outcome measures in their clinical practice. Physiotherapists below 40 years of age use outcome measures (64.7%) more than those 41 years and above (6.7%). Physiotherapists working in public facilities in Ghana are more likely to use outcome measures (56.2%) than those in private facilities (16.2%). Physiotherapists who attend to 1-10 patients in a week used outcome measures more (32.4%) than physiotherapists who attend to more than 30 patients (3.8%) in a week. Conclusion. There is poor usage of outcome measures by Ghanaian physiotherapists, with more than half of the participants not using any standardized outcome measures for rehabilitation of patients in their practice. Physiotherapists who attends to fewer number of patients in a week are more likely to use outcome measures. There is the need for implementation of policy and guidelines on the use of outcome measures by the Allied Health Professions Council and the Ghana Physiotherapy Association

ECONOMIC INTEGRATION FOR DEVELOPMENT IN EASTERN AND SOUTHERN AFRICA: ASSESSMENT AND PROSPECTS

Summary Eastern and Southern Africa has a long history of efforts to achieve operational economic integration and a complex set of overlapping institutional frames. The gains from successful cooperation are agreed ? the basic issues turn on how to attain them. In this context the experiences of the two key actors, PTA (Preferential Trade Area) and SADC (Southern African Development Community), offer insights into the strengths and weaknesses of a broad, secretariat?led trade barrier reducing organization and a narrower (geographically), key sector production coordination, country?led one (SADC). The divergences ? as well as history ? have hampered attempts to coordinate or to merge them and their responses to the opportunities and challenges posed by the re?entry of South Africa into Africa. The latter raises rather more complex issues (and ones less threatening ? or promising in some respects ? to its Eastern and Southern African region potential partners) than is sometimes supposed. Resumé efforts pour d'obtenir l'intégration économique et de rendre celle?ci opérationnelle dans le contexte d'une série complexe de cadres institutionnels parfois superposés. Les gains résultant des réussites dans la coopération ne sont pas contestés: les questions fondamentales tournent autour des moyens d'y parvenir. Dans ce contexte l'expérience de deux acteurs principaux (la PTA – Preferential Trade Area ou Zone commerciale privilégiée et la SADC – Southern African Development Community ou Communauté de développement de l'Afrique australe) offrent des aperçus quant aux avantages et désavantages de l'existence d'une organisation de grande envergure et fondée sur secrétariat, consacrée à la réduction des barrières douannières, et d'une autre organisation, cette fois limitée en termes de sa superficie géographique et menée par des pays, qui cherche à coordiner la production dans les secteurs clef: la SADC. Leurs divergences, et l'histoire même, ont servi d'entrave aux efforts de les coordiner ou de les faire fusionner, surtout en ce qui concerne les nouvelles possibilités et le challenge même de la réintégration de l'Afrique du Sud dans la grande Afrique. Cette réintégration soulève des questions un peu plus complexes (et moins menaçantes) et aussi, moins promettrices sous certains jours pour ses éventuels partenaires dans les régions orientales et australes de l'Afrique) qu'on ne le supposerait parfois. Resumen El Africa oriental y el Africa austral tienen un largo historial de esfuerzos para alcanzar la integración económica operacional y un complejo grupo de estructuras institucionales superpuestas. Los beneficios de una cooperación exitosa no están en discusión ? el punto básico es cómo obtenerlos. En este contexto las experiencias de dos actores clave, (la PTA?Preferential Trade Area o Zona de Comercio Privilegiado, y la SADC ? Southern Africa Development Community o Comunidad para el Desarrollo de Africa Austral), ofrecen interesantes revelaciones sobre los puntos fuertes y débiles de una amplia y burocrática barrera comercial que reduce la organización, y la coordinación de la producción en sectores clave de un área geográfica más reducida, de orientación nacional. Las divergenias ? así como la historia ? han estorbado intentos de combinar o coordinar estos dos aspectos y sus respuestas a las oportunidades o desafíos que presenta el reingreso de Sudafrica al Africa. Esto último plantea más asuntos complejos de los que a veces se suponen (y menos amenazantes ? más prometedores en alugunos aspectos) para sus socios comerciales en potencia en Africa oriental y Africa del sur