[01] Eleazer Fianko Ofei, Department of Business Administration, Accra Institute of Technology, Accra, Ghana. [02] Miriam Naa Norley Adom Norquaye, Department of Graduate Studies, Nobel International Business School, Accra, Ghana. [03] Evelyn Biriwaa Ofei, Graduate School, African University College of Communications, Accra, Ghana.

Monitoring plays a major role in the functions performed by banks as it ensures that activities are done as per the laid down policies and procedures. This affects the performance of banks. This study analysed the effect of monitoring activities carried out by the management of the banks on the financial performance of the banks. The study's main objective was to determine the effect of the monitoring activities on the financial performance of banks in Ghana. The researchers adopted a survey design for this study. The study population was 20 universal banks operating with a universal banking license. A sample of 676 participants from the 20 banks took part in the survey. The study adopted a survey research design. The population of the study was 20 banks. The data collected was analysed using hierarchical linear regression. The outcome of the analysis suggested that monitoring activities had a negative effect on financial performance. The effect was further found not to be significant. This implies that banks' monitoring activities were not a significant predictor of financial performance aside from negatively affecting financial performance. The results imply that banks and regulators are required to pay particular attention to the components of monitoring activities and ensure that they are aligned towards enhancing the financial performance of banks. The researchers recommended that, considering the limitations of this study, future researchers replicate similar studies in other sectors or expand the scope to include rural banks and savings and loan institutions.

Internal Audit, Monitoring Activities, Bank of Ghana, Financial Performance

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