Richard Ofosu Dwamena
Takoradi Technical University (TTU)
Email: asaasewura2003@yahoo.com
Abstract
The study finds that corporate culture moderates positively the relationship between audit committee and corporate governance among MMDAs in western region of Ghana. It is concluded that audit committee mechanism is a vital component of corporate governance indication among MMDAs. It is recommended that audit committee needs to be strengthened in order to ensure their effective operations as well as enhances corporate governance activities. The study employs the purposive and convenience sampling technique to sample fourteen (14) MMDAs, with 12 respondents selected from each of the 14 MMDAs in the western region. The sample size is 168. Data is analysed using SPSS version 20 and through descriptive, correlation and regression tools. The study discovers the most dominant indicator underscoring audit committee characteristics of MMDAs in the western region of Ghana is independence. Similarly, the study discovers that the most dominant indicator underscoring audit committee role/functions of MMDAs in the western region of Ghana is internal control. The study finds a positive linkage between audit committee functions and corporate governance. Audit committee (AC) has become a fundamental mechanism in corporate governance across the globe. Critical observation shows that there exists conflict between auditors and management of MMDAs in the Western Region as well as community members and the assemblies. This form of agency problem creates tension within the working environment of MMDAs in the region. In light of this, the study examines the impact of audit committee mechanisms and corporate governance among MMDAs in the western region of Ghana. The study utilizes the quantitative method through the cross-sectional survey design.
Keywords: Internal Audit, Audit Committee Mechanisms, Public Financial Administration, Economic management, Accounting, Accountability, Transparency, Corporate Governance
