The Impact Of Internal Audit As A Means Of Organizational Survival And Growth (A Case Study Of Center For Management Development)

ABSTRACT

This study has attempted to look at The Impact of Internal Audit on Organizational Growth and Survival, using Centre

for Management Development (CMD).

In an attempting to do this, the study has it objective: to look at The Impact of Internal Audit on Organizational

Growth and Survival, to look at the challenges and problems confronting

Internal Audits in the performance of their duty, and to proffers solution when

necessary. The research reviewed the relevant literature on the subject matter

of Internal Audit. It also reviewed literature on theoretical framework considered

appropriate and relevant to the study. There is overwhelming evidence that

despite the volumes of texts and articles that have been written, the subject

of auditing continues to attract the interest of scholars. This is perhaps

because the subject is as complex, dynamic and evergreen as human nature.

The research posed certain questions and also formulated some hypothetical statements. To take care of these,

primary data were collected through questionnaire from 76 Respondents (staff)

were carefully selected.

Simple percentage was used to analyze the data and Chi-square method was employed to test the hypotheses. The result

of the analysis done and finding from the relevant literature reviewed therefore formed the basis of the findings. Some of the findings as evidence in

the studies are: That Auditing is vital to the effectiveness and survival of

any organization, those Auditors are faced with major challenges in the course

of carrying their duties.

The study also proffers some recommendations, this include: To enhance the understanding of auditors among

non-audit and management, courses on the role of auditors in an organization

should be organized for them from time to time, an auditor should always approach his assignments with open mind, free of prejudice. He should always

bear in mind that he is auditing the system and not the staffers, the auditors

should adopt a more friendly and related approach in dealing with his fellow

staff, such that would give him their maximum cooperation and at the same time

yield desired results, the auditor should make honesty, integrity and objectivity his guiding principles, On no account should he succumb to undue

pressure and are likely to mortgage his conscience and undermine his professional judgment, and the auditors should understand that it is better to

leave an organization with his honour intact than to lose credibility and become irrelevant in the system.

TABLE OF CONTENT

Title Page                                                                                                   i

Certification                                                                                               ii

Dedication                                                                                                 iii

Acknowledgement                                                                                    iv

Abstract                                                                                                    v

Table of Content                                                                              vi

 CHAPTER ONE

1.0

   Introduction                                                                                     1

1.1

   Background Of The Study                                                              1

1.2

   Statement Of The Problem                                                              3

1.3

   Purpose Of The Study                                                                     5

1.4

   Research Questions                                                                        6

1.5

   Research Hypothesis                                                                       7

1.6

   Significance Of The Study                                                               7

1.7

   Scope/Delimitation Of The Study                                                   8

1.8

   Definition Of Terms                                                                         

9

References

                                                                                       10

CHAPTER TWO: REVIEW OF RELATED LITERATURE

2.0

   Introduction                                                                                     11

2.1

   Objective Of Internal Audit                                                             16

2.2

   Types Of Audit                                                                                 18

2.3

   The Roles Of Non-Auditing Officers As Affecting Audit Works     20

2.4

   Ways The Non-Auditing Officers Constitute Problems                 22

2.5

   Challenges Of Internal Audit                                                          26

2.6

   Organisation Of Internal Auditing Function                                  30

2.7

   Functional Role Of Internal Auditing                                             34

2.8    Auditing: Bridging The Expectation Gap                                       39

References

                                                                                       54

 

CHAPTER THREE: RESEARCH METHODOLOGY

3.0

   Research Methodology                                                                    56

3.1

   Introduction                                                                                     56

3.2

   Research Design                                                                              57

3.3

   Source Of Data                                                                                57

3.4

   Population For The Study                                                               58

3.5

   Sample Size Determination                                                             58

3.6

   Instrument For Data Collection                                                     59

3.7

   Instrument And Tools For Data Collection                                    59

3.8

   Limitation Of The Study                                                                  60

CHAPTER FOUR: DATA PRESENTATION, ANALYSIS AND INTERPRETATION

4.0    Introduction                                                                                     62

4.1    Data Presentation, Analysis And Interpretation                            63

4.2    Test Of Hypothesis                                                                          78

CHAPTER FIVE: SUMMARY OF FINDINGS, CONCLUSION AND RECOMMENDATIONS

5.0    Summary Of Findings                                                           85

5.1    Conclusion                                                                                       86

5.2    Recommendations                                                                           87

Bibliography

Appendix

Questionnaire