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Internal Audit As A Tool In Achieving Organisational Objectives
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1.2 STATEMENT OF THE PROBLEM
Internal control system may be insufficient based on some predicament. These may include lack of segregation and assignments of
duties
of accounting staff. Also the scopes of duties of internal audit unit
are so wide and their scales of operations so low as well as the
shortage of qualified staff to carry out internal auditing and
accounting duties.
Independence of accounting officer can easily be
influenced by management which can affect the internal audit system of
an organisation clearly defines as a result of two or more dishonest
staff can collide to override the efficiency of the internal control
system. The criticism of internal control system has been extended to
the banking industry hence the study of internal audit as a tool for
effective management.
1.3 OBJECTIVE OF THE STUDY
Internal audit is
a tool, procedure, way to helping organisations achieve their set goals
or objectives. The main objective of the study is to examine the
effectiveness of internal audit in an organisation.
Other objectives
of this study are as follows: To show how internal audit assist in
management operations. To show how organisational hierarchy has
influenced internal audit department.
To ascertain how internal audit department is a base to achieving value for money audit.
1.4 RESEARCH QUESTIONS
1. Does internal audit actually assist in management operations?
2. Does organisational hierarchy enhance internal audit performance?
3. Can internal audit be a base to achieving value for money?
1.5 STATEMENT OF THE HYPOTHESES
In
this section the hypothesis selected in chapter one is tested relevant
question from the question for, and the questionnaire aroused to the
test of the hypothesis.
HYPOTHESIS ONE
Ho; internal audit is not a source of help to prudent management operations.
H1; internal audit is a source of help to prudent management operations.
HYPOTHESIS TWO
Ho;
the recognition accorded to the internal audit department in the
organisation hierarchy do not enhanced the system of the organisational
operations.
H1; the recognition accorded to the internal audit
department in the organisation hierarchy do enhanced the system of the
organisational operations.
HYPOTHESIS THREE
Ho; internal audit department is not a base for achieving value for money audit
H1; internal audit department is a base for achieving value for money audit
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