AN EVALUATION OF FINANCIAL CONTROL PRACTICES IN THE HEALTH INSURANCE
Abstract
The Korle Bu Teaching Hospital has recently been in the news for various forms of financial malpractice, which could be the result of weaknesses in the institution’s internal financial control system. To that end, the current study sought to assess the effectiveness and efficiency of the hospital’s existing internal financial control systems.
The study’s population consists of three hundred and nine (309) members of the hospital’s Board of Directors, Accountants, Internal Auditors, Management, and Senior Administrative staff who play a role in the implementation of the hospital’s internal control policies. The study included sixty (60) respondents who were chosen at random. Descriptive analysis (tables, bar graphs, and pie charts) were used in the study.
data investigation The study found that the internal financial control measures implemented by Korle Bu Teaching Hospital’s management are quite effective, but the independence of the internal auditor is not guaranteed.
The study also revealed that the hospital lacks an internal control unit to oversee the day-to-day implementation of financial control policies. Based on our findings, we recommend that Korle Bu Teaching Hospital’s management increase its
cooperation and support to the internal audit unit and other departments in charge of implementing internal control measures in order to improve the effectiveness of internal financial controls. We also recommend that an internal control unit be established to oversee the hospital’s implementation of internal financial control policies.
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TABLE OF CONTENT
Title page- – – – – – – – – i
Approval page – – – – – – – -ii
Dedication – – – – – – – – -iii
Acknowledgement – – – – – – – -iv
Abstract – – – – – – – – – -v
Table of content – – – – – – – -vi
CHAPTER ONE
INTRODUCTION – – – – – – – -1
1.0 Background of the study – – – – -1
1.1 Statement of the problem – – – – -5
1.2 Purpose of the study – – – – – -6
1.3 Significance of the study – – – – -8
1.4 Research questions – – – – – -9
1.5 Scope of the study – – – – – – -10
CHAPTER TWO
LITERATURE REVIEW – – – – – – -11
CHAPTER THREE
Research methodology – – – – – – -39
Design of study – – – – – – – -40
CHAPTER FOUR
Presentation, analysis and interpretation of data – -48
CHAPTER FIVE
Summary of findings – – – – – – -60
Conclusion – – – – – – – – -61
Recommendations – – – – – – – -62
Suggestions for further research – – – – -64
References – – – – – – – – -65
Appendix I – – – – — – – – -68
Questionnaire. – – – – – – – -69
AN EVALUATION OF FINANCIAL CONTROL PRACTICES IN THE HEALTH INSURANCE
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