ABSTRACT

The main objective of the study is to examine the effect of internal auditing on managerial competency ofproduction firms in Nigeria. This study adopts survey research design. The research work adopts both primary and secondary source of data in obtaining all the data neededfor the study. The multiple regression method is adopted in investigating the relationship between the dependents and independent variable. Also, the result presents an insignificant effect on the effective revenue collection ofproduction firms in Nigeria. In conclusion internal audit has a positive insignificant effect on fraud prevention and other financial irregularities ofproduction firms in Nigeria and internal auditing has a positive significant effect on the fund utilization of production firms in Nigeria. In recommendation, firms should put in place effective internal auditing procedures that will checkmate fraud, move bottleneck and ease operational towards the attainment ofproductivity and sound managerial efficiency and also, a careful plan should be put in place in selecting the right internal auditingproducers that is devoid oflapses so as tofurther enhance the quality ofinternal controls and lastly, managers should be well informed about the available internal controls in place to enable them chose the right inter auditing procedure that will enhance more managerial efficiencyforfraud utilization.