Impact Of Internal Auditing on The Efficient Management of Manufacturing Industry In Nigeria (A Study of Nigeria Bottling Company) Enugu

UMEZURUIKE CHIGOZIE EZEKIEL | Projects

ABSTRACT

This research examined the effect of internal auditing on the efficient management of manufacturing industries in Nigeria: A study of Nigeria bottling company Enugu. The specific objectives were to identify the determinants of internal audit of, to assess the efficiency indicators of the sampled company and to establish the relationship between internal audit and efficient management of Bottling Company Enugu. The study used survey research approach such as percentages and frequencies as well as various instruments of data collection. The results showed that the efficiency indicators of internal audit are financial efficiency as evidenced with 25.39%, efficiency of operations with 53.97%, accountability with 17.46 % and goals attained with 3.17% of respondents. Findings showed that there is indeed a strong positive relationship between internal audit and efficient management at a Pearson correlation coefficient of r = 0. 732 and p = 0.01. Since r > 0.1, this implies that internal audit affects efficiency by 73.2% and 27.8% by other factors. From the discussion of findings, the study concludes that the quality of audit work has a significant positive effect on efficient management of Nigerian bottling company Enugu. The recommendations were provided stating that the recruitment systems should be streamlined so that recruitment is done of employees who are qualified in their respective areas regardless of their connections and the management of the Nigerian Bottling company should create the chartered institute of auditing for growing up the professional auditor with better function of audit.

 TABLE OF CONTENTS

Title page                                                                                                                    i

Declaration                                                                                                                  ii

Certification                                                                                                                iii

Dedication                                                                                                                  iv

Acknowledgements                                                                                                    v

Table of contents                                                                                                        vi

List of Tables                                                                                                              ix

Abstract                                                                                                                      x

 

CHAPTER ONE: INTRODUCTION

1.1       Background to the Study                                                                               1

1.2       Statement of Problem                                                                                                4

1.3       Objectives of the Study                                                                                  5

1.4       Research Questions                                                                                         5

1.5       Hypotheses of the Study                                                                                5

1.6       Significance of Study                                                                                     6

1.7       Scope of Study                                                                                                           7

1.8       Limitations to the Study                                                                                 7

1.9       Definition of Terms                                                                                        7

CHAPTER TWO:  REVIEW OF RELATED LITERATURE

2.1       CONCEPTUAL FRAMEWORK                                                                  10

2.1.1   Internal Control                                                                                               10

2.1.2    Objectives of internal control system                                                             14

2.1.3    Types of internal control                                                                                 15

2.1.4    Importance of internal control system                                                                        17

2.1.5    Components of internal control                                                                                  18

2.1.6    Relationships between internal auditing and internal control                                     20

2.1.7    Management and internal control system                                                       21

2.1.8    Financial control                                                                                             22

2.1.9    Limitation of internal control                                                                          22

2.2       Theoretical Framework                                                                                               23

2.2.1    Agency theory                                                                                                            23

2.2.2    Contingency theory                                                                                        24

2.2.3    The theory of the firm                                                                                     26

2.2.4.   Stakeholders’ theory                                                                                       27

2.2.5    Control theory                                                                                                 28

2.2.6    Institutional theory                                                                                         29

2.2.7    Stewardship theory                                                                                         30

2.3       Empirical Review                                                                                            32

CHAPTER THREE: RESEARCH METHODOLOGY

3.1       Research Design                                                                                             37

3.2       Area of Study                                                                                                             37

3.3       Population of the Study                                                                                              37

3.4       Sample Size and Sampling Technique                                                                        38

3.5       Sources of Data                                                                                              38

3.6       Validation and Reliability of The instrument                                                 39

3.7       Data Analysis Technique                                                                                39

3.8       Model Specification                                                                                        40

CHAPTER FOUR: DATA PRESENTATION AND ANALYSIS OF RESULTS

4.1       Presentation of data                                                                                        41

4.1.1    Gender of respondents                                                                                               41

4.1.2.   Category of respondents by age                                                                     42

4.1.2.   Education level of respondents.                                                                    42

4.1.2.   Experience of respondents                                                                              43

4.1.4    Characteristics of internal audit                                                                                  44

CHAPTER FIVE: CONCLUSION AND RECOMMENDATIONS

5.1       Conclusion                                                                                                      51

5.2       Recommendations                                                                                          51

            References

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APA

UMEZURUIKE, E (2021). Impact Of Internal Auditing on The Efficient Management of Manufacturing Industry In Nigeria (A Study of Nigeria Bottling Company) Enugu. Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/impact-of-internal-auditing-on-the-efficient-management-of-manufacturing-industry-in-nigeria-a-study-of-nigeria-bottling-company-enugu-7-2

MLA 8th

EZEKIEL, UMEZURUIKE. "Impact Of Internal Auditing on The Efficient Management of Manufacturing Industry In Nigeria (A Study of Nigeria Bottling Company) Enugu" Mouau.afribary.org. Mouau.afribary.org, 18 May. 2021, https://repository.mouau.edu.ng/work/view/impact-of-internal-auditing-on-the-efficient-management-of-manufacturing-industry-in-nigeria-a-study-of-nigeria-bottling-company-enugu-7-2. Accessed 31 Oct. 2024.

MLA7

EZEKIEL, UMEZURUIKE. "Impact Of Internal Auditing on The Efficient Management of Manufacturing Industry In Nigeria (A Study of Nigeria Bottling Company) Enugu". Mouau.afribary.org, Mouau.afribary.org, 18 May. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/impact-of-internal-auditing-on-the-efficient-management-of-manufacturing-industry-in-nigeria-a-study-of-nigeria-bottling-company-enugu-7-2 >.

Chicago

EZEKIEL, UMEZURUIKE. "Impact Of Internal Auditing on The Efficient Management of Manufacturing Industry In Nigeria (A Study of Nigeria Bottling Company) Enugu" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/impact-of-internal-auditing-on-the-efficient-management-of-manufacturing-industry-in-nigeria-a-study-of-nigeria-bottling-company-enugu-7-2

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