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

¿Modernidad/Colonialidad sin “Imperialidad”? El Eslabón Perdido del Giro Decolonial.

O “giro decolonial” ao adaptar o argumento pós-colonial para a América Latina, compreende que a colonialidade é a face oculta e constitutiva da modernidade. Ao constatar criticamente que o problema do imperialismo é subdesenvolvido pelos seus principais teóricos, lanço as seguintes indagações: é possível pensar na relação entre colonialidade e modernidade, sem a dinâmica da “imperialidade”? Como explicar a reprodução das novas formas de colonialismo sem a consideração das novas formas de imperialismo? Neste artigo, assim, proponho o conceito de Imperialidade como uma lacuna que impede a explicação dos mecanismos de reprodução da colonialidade. Ao entendê-la como lógica do imperialismo, constitutiva e relacional da colonialidade, observo ainda que as estratégias de descolonização devem ser muito mais dirigidas à “Imperialidade” do que à modernidade propriamente dita. A informalidade, invisibilidade e nebulosidade dos mecanismos contemporâneos de Imperialidade reproduzem o imperialismo sem império através da governança sem governo no contexto global