The Relationship between Organizational Control Environments on the Financial Performance of Tertiary Institutions in Nigeria

The study is an investigation into the relationship between organizational control environment and financial performance in Tertiary Institutions in Nigeria, using Cross River State College of Education, Akamkpa as a case study. Data was collected using questionnaires and interview guide as well as review of available documents and records. The method of analysis employed was survey design while the stratified sampling procedure was adopted in administering the questionnaires. The data were analyzed using simple percentages, tables, correlation coefficient and z-scores. The study revealed that management of the College is committed to the control system. They actively participate in monitoring and supervision of the activities of the Institution. Also, the study found that there is a fair accounting management system in the college. In the area of control environment the study shows that council and management takes appropriate measures in correcting misfeasance in the system. There is close monitoring and implementation of controls without disclosure of ethical issues to staff. The study result further shows that there is no significant relationship between organizational control environment and financial performance of Cross River State College of Education. The investigation recommend that management should disclose ethical issues to staff and these should be upheld strictly in all strategic decision. Also recommended is the need for management to carry out a special internal control training for staff to ensure acquaintance with major controls in the system. Keywords: Internal audit, internal control system, financial performance, financial and non financial procedure