ETHICAL GOVERNANCE AND CONTROL MECHANISMS: A MUL-TICRITERIA ANALYSIS OF ANTI-CORRUPTION PRACTICES IN THE FINANCIAL SECTOR

Abstract

This paper investigates the effectiveness of control mechanisms in combating corruption within the Moroccan financial sector through a multicriteria decision analysis (MCDA). Using data from 100 respond-ents across financial institutions (35), regulators, and audit profession-als, the study evaluates fifteen control mechanisms based on five weighted criteria: effectiveness of control tools (30%), implementation obstacles (20%), technological advantages (20%), staff training and awareness (15%) (24), and familiarity with standards (15%).

The results indicate that internal control (7.20) and internal audit (6.80) are perceived as the most effective mechanisms, followed by verifica-tion and validation of records (6.35). Conversely, governance frame-works and policy establishment score lower due to implementation weaknesses. The findings also reveal a positive correlation between dig-italization and perceived control efficiency, moderated by staff train-ing and ethical culture.

This study highlights that effective anti-corruption frameworks require not only technological innovation and regulatory compliance but also a strong ethical foundation and human competence. The paper con-tributes to the literature on business ethics by linking control efficiency, digital transformation, and governance integrity in emerging financial systems.