An Assessment of the Impact of Effective Internal Control Systems on the Financial Performance of Public Universities in Sierra Leone: A Case Study of Ernest Bai Koroma University of Science and Technology (EBKUST)
DOI:
https://doi.org/10.65150/EP-jefrrV1E4/2025-04Keywords:
Statistical Package for the Social Sciences (SPSS), Ernest Bai Koroma University of Science and Technology (EBKUST).Abstract
This study examines the impact of effective internal control systems on the financial and operational performance of public universities in Sierra Leone, with a particular focus on Ernest Bai Koroma University of Science and Technology (EBKUST). As public universities face increasing accountability, transparency, and resource management challenges, strong internal controls have become crucial for maintaining financial integrity and operational efficiency. This research aims to provide empirical evidence on how well-structured internal control frameworks contribute to improved financial management and overall institutional governance at EBKUST. The goal of this study is to evaluate the effectiveness of internal control systems at EBKUST and their role in enhancing financial performance. Specifically, the study seeks to (1) examine how robust internal control systems influence the university's financial performance and (2) identify the main beneficiaries of a properly implemented internal control system within the institution. To gain a detailed understanding of the impact of internal controls on financial performance at EBKUST, a mixed-method approach was used, combining a cross-sectional survey with interviews. The study population included 187 staff members from EBKUST, and a census method was applied for the quantitative part of the research. Data collected from the survey were analyzed using the Statistical Package for the Social Sciences (SPSS). The results were presented through various statistical tools, such as graphs, pie charts, and tables. Descriptive statistics provided a clear summary of the data. The findings indicated that since the establishment of EBKUST, the internal controls in place have been considered effective and satisfactory. This research also offers recommendations for improving internal control systems to promote greater efficiency and strengthen the financial health of public universities in Sierra Leone.
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