Author(s): Solomon Arhin

The study seeks to investigate current and recent rampant financial frauds and weak internal controls and their impact on financial performance of the mobile payment companies in Ghana. The study will be approached in two parts: Secondary and primary.
Secondary data will be used for multiple linear regression analysis based on consolidated financial statement data from the past ten years of the mobile payment companies operations around the globe. Methodically, Structural Equation Modeling (SEM) through Path Analysis coupled with, partial correlation tests and Test of interactions, ANOVA and ratio analysis will all be exploited in the analysis to estimate and predict the relationship between fraud and internal controls and its impact on financial performance. The second approach will use the primary data to measure the nature and trend of fraud and internal control on financial performance through the use of nonparametric statistical tools such as frequency distribution and factor analysis and Pearson-Chi square correlation tests. The study will be conventional survey that will involve the use of self-administered structured questionnaire to collect primary data from the mobile payments service providers in Ghana for the period of ten years of operation. It is expected that these tests will predict either positive or negative bi-directional relationships of the variables of the mobile companies used in the study .The combined results will offer theoretical contributions in the area of adoption of multiple fraud and internal control theories within the framework of neoclassical growth model. The application of the outcome to practice is the use of the result for predictability and financial sustainability of the mobile companies over future periods. The study outcome is also expected to enforce the countries to establish specific policies that will regulate the operation of mobile payment companies to the benefit of
their customers.