This study examined the influence of corporate governance practices on the financial performance of Small and Medium Sized Enterprises (SMEs) in Ghana. The study surveyed 320 owners/managers of SMEs through a stratified random sampling technique. The main instrument for data collection was a questionnaire; whiles data were analyzed using statistical tools such as mean and standard deviation and regression techniques to answer the research questions. The results of the study showed that all the four areas of corporate governance practices examined in the study, which include the size of the advisory board, the composition of the board, managerial competence as well as financial disclosure, and transparency, were positively associated with the financial performance of SMEs in Ghana. However, there is poor financial disclosure and transparency among SMEs in Ghana. Weak legal controls, law enforcement, and poor financial disclosure systems affect the corporate governance practice among SMEs. The study concludes that the corporate governance practices of SMEs significantly impact their financial performance. Based on the above findings and conclusion, it was recommended that SMEs' shareholders ensure that their respective enterprises have active and sizeable advisory boards that meet regularly to support the management of the firms. Also, managers of the firms should improve their managerial competence through training and development programs as that affects the performance of SMEs in Ghana.