A STUDY INTO THE CHALLENGE OF INTERNAL AUDITS IN AN ORGANIZATION IN NIGERIA

ABSTRACT: It is generally agreed that finance is the main stay of any economy, be it public or private sector. This study identified the problems in internal audit department of public sectors, Found ways of improving on the internal audit of public sector, explained the meaning and significance of internal audit as an aid to public sector and obtained useful information that will serve as input for further research work. Simple random sampling with proportionate representation was used to determine sample size 18 from 20 staff of Kaduna state ministry of finance Kaduna. Structured questionnaire was used for data collection and this was supplemented with interview of key informants. Data were analyzed using Chi-square. Results showed that the internal audit departments have helped the ministry of finance to achieve its objectives. The internal audit department carries out their assignment economically, effectively and efficiency. (that is value for money audit). The internal audit department is not fully independent i.e. there is a lot of interference from the management of the ministry and government. In conclusion, it should be understood that the extent to which the internal auditor can perform his duty effectively is where there is sound internal control system. It was recommended that Government should base the appointment of the internal auditor under merit, so as to ensure reliability in the skills of the staff.

TABLE OF CONTENT 

Title Page -  -  -  -  -  -  -  -  -  i

Approval Page  -  -  -  -  -  -  -  -  ii

Dedication  -  -  -  -  -  -  -  -  iii

Acknowledgement  -  -  -  -  -  -  -  iv-v

Abstract  -  -  -  -  -  -  -  -  -  vi

Table of Contents  -  -  -  -  -  -  -  vii-viii  

CHAPTER ONE – INTRODUCTION 

1.1  Brief Overview of the Subject of Study  -  -  --1 

1.2  Statement of General Problem  -  -  -  -  --2 

1.3  Objective of the Study  -  -  -  -  -  --3 

1.4  Hypothesis  -  -  -  -  -  -  -  --4 

1.5   Research Questions   -      -      -      -      -      -   -  --4 

1.6  Significance of the Study  -  -  -  -  -  --5 

1.7  Scope of the Study  -  -  -  -  -  -  --5 

1.8  Limitation of the Study  -  -  -  -  -     -5-6  

 1.9  Definition of Terms  -  -  -  -  -  -     -6-8  

CHAPTER TWO – REVIEW OF RELATED LITERATURE 

2.1  Introduction  -  -  -  -  -  -  -  9-10 

2.2  OBJECTIVES OF INTERNAL AUDIT. ADENIYI: (2004)-   

2.3  CHARACTERISTIC OF INTERNAL AUDIT- -  -  -  

2.4  RESPONSIBILITY OF AN INTERNAL AUDIT TO PUBLIC SECTOR-  -  -  -  -   -  -  -  -   

 2.5  FUNCTION OF AN INTERNAL AUDIT DEPARTMENT-     

2.6  INTERNAL  AUDIT  AS  INTEGRAL  PART  OF  INTERNAL CONTROL-  -  -  -  -  -  -  - 

 2.7  CO-OPERATION  BETWEEN  INTENAL  AND  EXTERNAL AUDITORS (ONOCHIE 2005) -  -  -  -  -  -    

 2.8  PROBLEMS OF INTERNAL AUDIT-  -  -  -  -   

CHAPTER THREE – RESEARCH METHODOLOGY 

3.1  Introduction  -  -  -  -  -  -  -  -     

3.2  Research Design  -  -  -  -  -  -  -    

 3.3  Sample size and Sampling Techniques-  -  -  -     

3.4  Questionnaire Design  -  -  -  -  -  -     

3.5  Data Collection Method  -  -  -  -  -  -      

3.6  Statistical Tools of Analysis Employed-  -  -  -   

CHAPTER FOUR – DATA PRESENTATION AND ANALYSIS 

4.0  Introduction  -  -  -  -  -  -  -  -         

 4.1  Data Presentation and Analysis -  -  -  -  -    

 4.3  Testing Hypothesis  -  -  -  -  -  -  -    

 4.4  Summary of Findings  -  -  -  -  -  -     

CHAPTER FIVE – SUMMARY, CONCLUSION AND RECOMMENDATION

5.1  Summary -  -  -  -  -  -  -  -  -   

 5.2  Conclusion  -  -  -  -  -  -  -  - 

 5.3  Recommendations  -  -  -  -  -  -  -       

Bibliography -  -  -  -  -  -  -  -  -         

 Questionnaires -  -  -  -  -  -  -  -