[01] Eleazer Fianko Ofei, Department of Business Administration, Accra Institute of Technology, Accra, Ghana. [02] Evelyn Biriwaa Ofei, Department of Graduate Studies, Nobel International Business School, Accra, Ghana. [03] Miriam Naa Norley Adom Norquaye, Graduate School, African University College of Communication, Accra, Ghana.

Control activities are one of the key measures adopted by institutions to ensure compliance with laid down procedures and rules in an organization. Effective control activities determine how successful an institution will be in terms of its financial performance. This study examines the control activities used by banks operating in Ghana and how their activities affect the financial performance of these banks. The study uses a survey research design for this current study. The study's accessible population was made up of 20 universal banks in Ghana for the past 8 years out of 23 universal banks operating in Ghana. The study's sample size was 676 participants from the board, management committees and operational staff. The study relied on primary data collected with the help of a well-structured questionnaire. Descriptive, correlation, and hierarchical linear regression were used to analyse the data collected. From the analysis of the data, the findings suggest that control activities were correlated with the performance of the banks in Ghana. implying that an improvement in the control activities of the banks will lead to an improvement in the financial performance of the banks. The results further suggested that control activities had a positive influence on financial performance, implying that as control activities rise, financial performance improves. This result suggests that control actions play a significant role in safeguarding the assets of the bank. It is thus advised that bank management continue to examine their policies on control activities, enhance their control operations, and ensure staff have the necessary resources to guarantee appropriate control. Bank regulators should ensure that banks report on their control activities and any corrective steps made by the banks to ensure that control is done following established rules.

Internal Audit, Control Activities, Bank of Ghana, Financial Performance

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