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This study investigates risk management practices in public entities in the Ghana. We relied on the popular framework designed by the Committee of Sponsoring Organizations of the Treadway Commission-COSO, to advocate for possible ways to minimize the occurrence and effects of risk in public organizations. The internal control elements used include: control environment, commitment to ethics, segregation of duties, review and information and communication. These constitute the explanatory variables used in performing multivariate data analysis to determine the dimensionality of the data set and possible outcomes. The exploratory research followed a quantitative approach using the survey method and a structured equation model. We established that, due to globalization and increases in the scale of operations, it is practically impossible for management through the help of auditors and those in charge of governance to validate the entire operations of the public sector to ensure strict compliance to internal control principles, in order to minimize the detrimental impacts of risk. However, an alternative sustainability depends on the prominence of quality financial reporting, compliance, commitment to ethical values and consistency in pursuit of the strategic and operational objectives based on good corporate governance. On the other hand, the implications of risks should be embedded in the minds of public servants as part of the organizational culture that will complement existing tools and techniques of internal control.

Background: This paper aims to investigate the effects of corporate governance mechanisms on the financial performance of hospitals. The statement, "good corporate governance" has been incorporated in the health care sector over the last decade, as an element to improve financial performance. Methods: The researchers relied on both primary and secondary data in the study. For the primary data, the authors used structured and nonstructured questionnaires to obtain data from 125 hospitals. The secondary data used emanated from board meetings, financial statements and relevant reports of the selected hospitals from 2010 to 2017. However, the data was then sorted out to get the required information on Chief Executive Officer (CEO) presence, board relationship, governance dynamics, gender diversity and financial performance. Results: On the basis of empirical evidence provided in this study, the results show that the Independent Directors (INDPDR) variable has a positive effect on Return on Assets and Net Profit Margin and also a high statistically significant value of 0.000 for both performance measures. This is an indication that the variable, INDPDR, is highly capable of

Goal: The objective of the paper is to extend the discussions on corporate governance to the public sector and examine good governance from a Ghanaian institutional context. Design / Methodology / Approach: Literature is based on relevant theoretical concepts and seven explanatory variables of corporate governance. Primary data was abstained through structured questionnaires administered to public servants from the Ministries, Departments and Agencies-MDA's in Accra. Ordinary Least Square multiple regression was employed to analyze a total valid sample of 568. The findings represent the opinions of board of directors, internal auditors, senior management and employees. Results: The empirical result shows that audit committees, leadership, board effectiveness, accountability and directors' qualification are strong determinants of good governance in public organizations. However, board size has no impact on good governance when board independence is negative. There is evidence that international corporate governance principles are reasonably visible without any significant deviations. Limitation of the investigation: The study is empirically limited with the absence of key variables such as corruption, ethnicity and tribal politics in public organizations in Ghana. These are major factors associated with institutional governance in developing countries. Practical implications: The study observed a negative relationship between board independence and good governance attributed to lack of board diversity. The study implies that gender balanced boards composed of higher ratio of female directors could enhance decision-making and guarantee board effectiveness. Originality / Value: The study emphasizes that public and private organizations share almost similar governance indicators, considering the model estimation. There is evidence that corporate governance is gaining popularity in the public sector, a discussion that is often limited to the private sector. The study contributes to the limited existing findings on the subject from a Ghanaian institutional context. Finally, the results validate many empirical opinions about the negative relationship between good governance and board size from different institutional environments.