_____________________________________________________________________________________________________ *Corresponding author: E-mail: eugenembilla90@gmail.com; Asian Journal of Economics, Business and Accounting 14(4): 18-33, 2020; Article no.AJEBA.55322 ISSN: 2456-639X Effects of Risk Assessment, Control Environment and Control Activities on Performance of Listed Banks in Ghana Redruth Nyaaba Ayimpoya 1 , David Amoah Akolgo 1 , Simon Akumbo Eugene Mbilla 1,2* and Michael Kwame Gbegble 3 1 Department of Accountancy, Bolgatanga Polytechnic, P.O.Box 767, Bolgatanga, Ghana. 2 Department of Business Studies, Regentropfen College of Applied Science, PMB, Bolgatanga, Ghana. 3 Department of Accountancy, Wa Polytechnic, P.O.Box 553, Ghana. Authors’ contributions This work was carried out in collaboration among all authors. Author SAEM designed the study, performed the statistical analysis, wrote the protocol and wrote the first draft of the manuscript. Authors RNA and DAA managed the analyses of the study. Author MKG managed the literature searches. All authors read and approved the final manuscript. Article Information DOI: 10.9734/AJEBA/2020/v14i430200 Editor(s): (1) Dr. Adina Dornean, Alexandru Ioan Cuza University of Iasi, Romania. Reviewers: (1) Srinivasa Rao Kasisomayajula, Madanapalle Institute of Technology and Science, India. (2) Simon Grima, University of Malta, Malta. Complete Peer review History: http://www.sdiarticle4.com/review-history/55322 Received 17 January 2020 Accepted 22 March 2020 Published 03 April 2020 ABSTRACT Globally, internal controls serve many important purposes for public private and public help organizations. There is however an increasing call for better and improved internal control systems especially in firms that are listed on public market. However, internal control systems, irrespective of how well conceived and implemented cannot provide absolute assurance of management and boards regarding the achievement of objectives. This research focused on the three components of internal control systems namely control environment, risk assessment, and control activities. This study therefore formulated four objectives and investigated how risk assessment, control activities, and control environment affects the performance of Ghanaian banks. In this quantitative study, representatives from twelve listed banks were engaged. Descriptive and regression analysis was performed on the field data. The study result shows while Risk assessment has a strong significant Original Research Article