This paper assessed the effect of audit committee independence and
corporate governance mechanism on a bank’s performance. A quantitative research
method was adopted to collect secondary data from 20 licensed banks in Ghana
from 2013 to 2022, giving a total of 200 observations for this study. Panel
data regression analysis revealed that audit committee independence and
corporate governance mechanism accounted for 77.83% of the variation of the
bank’s performance for the period under study. Furthermore, the study revealed
a significant and positive relationship between CEO-non-duality, non-executive
director, audit committee independence, and the bank’s performance. The study
recommends that the chairman of both the board and audit committee should be independent directors and any offending firm
who violated this provision should be fined.
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