Akmal Shahzad, Manzoom Akhtar, Sarah Qaim, Mumtaz Ali, Numair Ahmed Sulehri, Taseer Salahuddin
The rapid changes in technology and globalization leads to develop risk management framework. Therefore, in this study author investigate mediation effect of internal controls among the perceived business risk and financial performance of organization. Questionnaire distributed among financial professionals of selected industries. 204 responses received out of 351 distributed questionnaires. The results suggest that performance of organization has a significant positive relationship with all component of perceived Business risk (PBR) such as economic factors, financial indicators, technological change, political uncertainty and market competition. It is also found that internal controls mediate among the component of PBR and organization performance. The findings of this study provide meaningful insights for managers, which used generally by any organization as a guideline to improve the organization performance. In future, this study may also be repeated with secondary data as the perception base measurement of variables may open to bias.