The Impact of Internal Control and Risk Management on Banks in Palestine

Abstract

The purpose of the study attempts to analyze the impact of internal control and risk management on banks in Palestine. The investigation helped in identifying the impacts of new banking reformations and rules on the risk assessment, identification, and mitigation in banks. It was also assessed that whether frauds and errors are reduced, different types of risk are controlled, duties are segregated and practices are aligned with international standards in banks due to reformed internal control procedures. A qualitative close-ended survey was carried out for collecting data from managers of 10 banks in Palestine. The responses of 22 statements were collected in five different categories. The findings showed that overall internal control and risk management systems in Palestine have positively affected the banks in terms of quantitative as well as qualitative performance.