ABSTRACT
This research study on the evaluation
of internal audit as a tool for efficient management and control is
necessitated by the need to explore the extent and desirability of an
organization to achieve efficient management and control. It also brings to
limelight the extent of independence of the internal auditors in attesting for
truth and fairness of financial statements prepared by the management of these
organization. The purpose of this study is to find out whether internal audit
is a tool for efficient management and control in private sectors. In carrying
out this work the researcher studied selected private sector business
organizations like A.G. Levëntis, UAC NIG PLC and Nigerian Breweries PLC. The
objectives of this study were to:- determine whether internal audit function
help in efficient management and control for organizational growth, to
ascertain the effect of the dual usage of internal auditor as both accountant
and auditor on managements efficient performance, to deterh'iine whether
inadequate financial information contribute to management's efficiency and
control as well as its recommendation as a profound solution to it. Data were
collected both from primary and secondary sources. The primary sources were
through questionnaires administered and personal interview. The secondary
sources were text books forn libraries and journals, simple percentage and
chisquare technique were used in data analysis and testing of the three
hypothesis. 5% level of significance was provided for against error and 95% of
work done is assumed to be correct. At the end of this work, the findings
reveal that internal audit function and internal control system are not always
necessary for efficient management and control. That the duality usage of
internal auditor affect the management's efficient performance. That inadequate
financial information hinders the efficiency of management and control. The'
researcher recommends as follows: Qualified accountants should be employed as
well 'as internal auditors, auditing rules should be emphasized and adhered to,
there should be increased enlightenment on the accepted methods of keeping
internal accounting systems by 'firms, there should be increased enlightenment
on the staff who are in charge of disclosing financial information especially
during an internal audit for efficient performance.
ANIGBOGU, O (2021). Evaluation Of Internal Audit As A Tool For Efficient Management And Control. (A Case Study Of Some Selected Private Sector Business Organizations) . Mouau.afribary.org: Retrieved Nov 01, 2024, from https://repository.mouau.edu.ng/work/view/evaluation-of-internal-audit-as-a-tool-for-efficient-management-and-control-a-case-study-of-some-selected-private-sector-business-organizations-7-2
O., ANIGBOGU. "Evaluation Of Internal Audit As A Tool For Efficient Management And Control. (A Case Study Of Some Selected Private Sector Business Organizations) " Mouau.afribary.org. Mouau.afribary.org, 07 Jul. 2021, https://repository.mouau.edu.ng/work/view/evaluation-of-internal-audit-as-a-tool-for-efficient-management-and-control-a-case-study-of-some-selected-private-sector-business-organizations-7-2. Accessed 01 Nov. 2024.
O., ANIGBOGU. "Evaluation Of Internal Audit As A Tool For Efficient Management And Control. (A Case Study Of Some Selected Private Sector Business Organizations) ". Mouau.afribary.org, Mouau.afribary.org, 07 Jul. 2021. Web. 01 Nov. 2024. < https://repository.mouau.edu.ng/work/view/evaluation-of-internal-audit-as-a-tool-for-efficient-management-and-control-a-case-study-of-some-selected-private-sector-business-organizations-7-2 >.
O., ANIGBOGU. "Evaluation Of Internal Audit As A Tool For Efficient Management And Control. (A Case Study Of Some Selected Private Sector Business Organizations) " Mouau.afribary.org (2021). Accessed 01 Nov. 2024. https://repository.mouau.edu.ng/work/view/evaluation-of-internal-audit-as-a-tool-for-efficient-management-and-control-a-case-study-of-some-selected-private-sector-business-organizations-7-2