Control Environment and Risk Management of Listed Financial Services Firms in Nigeria

A considerable number of studies have examined the effect control environment on risk management at corporate level. However, these failed to disaggregate into its elements and therefore answer question which has most impact. It is in view this that study examines listed financial services firms Nigeria. Primary data was collected using 5-point Likert scale structured questionnaire adopted from Ernst Young (2003), Committee Sponsoring Organizations Treadway Commission (2013) Simon Fishbacher (2009) frameworks. 30 copies were administered each 35 sampled firms. The diagnosed by means normality test, multicollinearity heteroskedasticity test reliability analyzed descriptive (mean, standard deviation, minimum maximum) multiple regression analysis. Results show all 6 measures significant effects among finance study, therefore, concludes integrity, values, ethics behaviours managers, consciousness, commitment, board audit committee participation governance oversight organizational structure, assignment authority human resource policy practices are important considerations management. recommends others take a more proactive oversight. Managers must acknowledge their role shaping values seize opportunity create climate can strengthen relationships reputations companies’ success depends. Sound decision-making crucial skill for managers. From overseeing team leading critical meeting, being an effective manager requires knowing how analyze complex business problems implement plan moving forward. Finally, should position organizations within markets exploit competencies strengths. Keywords: Control Environment, Risk Management, Financial Firms, Internal Control, Management Control. DOI: 10.7176/RJFA/12-6-05 Publication date: March 31 st 2021