ABSTRACT
This study examined “Corporate
Governance in the Nigerian University system; managements’ perception of the
role of Internal Audit”. Data were gathered through the administration of
structured questionnaire to a sample of 222 Management Staff (Principal Officers),
Accountants and Internal Auditors of selected universities in the South East
geo-political zone of Nigeria due to proximity and cultural affinity derived
from work force. The data were analyzed using ANOVA, Multiple and Simple
regressions. The result shows that management of Nigerian universities
perceives internal audit function and efficiency either positively or
adversely. The extent of their positive perception enhances management control
activities while an adverse management perception has a negative effect on
management control activities in Nigerian universities. The role of Internal
Audit in Nigerian University governance is very vital; hence the centrality of
Internal Audit in University governance particularly in the financial governance
and performance of Nigerian Universities. The rating of management support to
internal audit functions is moderate in Nigerian universities. Management
support to internal audit functions has a remarkable effect on the performance
of internal audit in the university system. Furthermore, some internal audit
efficiency factors like, independence, integrity, objectivity of audit staff,
value added audit activities, interpersonal relationship among management,
auditor and other stakeholders, professional status and quality of audit staff,
influence the level of management support of internal audit in Nigerian
universities. The research recommends that the Federal Government through
Auditor General of the Federation and the National Universities Commission should
constantly create awareness to management of Universities on the function and
need for internal audit in the system of control in Nigerian Universities. In
addition, internal auditors should be allowed to have access to assets, books,
records and other relevant documents or information which they deemed necessary
for the purpose of their audit assignment. Management should also improve on
their level of support to Internal Audit functions and also give due attention
to their reports and recommendations.
MGBEMENA, M (2023). Corporate Governance In The Nigerian University System; Managements’ Perception Of The Role Of Internal Audit . Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/corporate-governance-in-the-nigerian-university-system-managements-perception-of-the-role-of-internal-audit-7-2
MGBEMENA, MGBEMENA. "Corporate Governance In The Nigerian University System; Managements’ Perception Of The Role Of Internal Audit " Mouau.afribary.org. Mouau.afribary.org, 13 Feb. 2023, https://repository.mouau.edu.ng/work/view/corporate-governance-in-the-nigerian-university-system-managements-perception-of-the-role-of-internal-audit-7-2. Accessed 31 Oct. 2024.
MGBEMENA, MGBEMENA. "Corporate Governance In The Nigerian University System; Managements’ Perception Of The Role Of Internal Audit ". Mouau.afribary.org, Mouau.afribary.org, 13 Feb. 2023. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/corporate-governance-in-the-nigerian-university-system-managements-perception-of-the-role-of-internal-audit-7-2 >.
MGBEMENA, MGBEMENA. "Corporate Governance In The Nigerian University System; Managements’ Perception Of The Role Of Internal Audit " Mouau.afribary.org (2023). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/corporate-governance-in-the-nigerian-university-system-managements-perception-of-the-role-of-internal-audit-7-2