The Role Internal Auditing In The Prevention Of Fraud And Survival Of Government Establishment (A Study Of Three Selected Government Establishments)

OJINGWA CHINAZA MARY | 76 pages (13668 words) | Projects

ABSTRACT

This research study focused on the role of internal auditing in the prevention of fraud and survival of government establishment with particular reference to Broadcasting Corporation of Abia State (B.C.A), Board of Internal Revenue (..Jmuahia and Aba headquarters and Ministry of Finance. In the course of this study the research study was organized into five different segments known as chapters. Extensive review of literature related in the area of study carried out, data was collected through primary and secondary source. Questionnaires were administered to respondents, interview were conducted by the researcher, some of which included the face to face interview with middle management and senior staff. A sample of 75 respondent was drawn through simple random sampling technique was used in the study, the collected was analyzed using likert scale and Pearson Moment Correlation, in the course of this study two hypothesis was were tested. It was found that internal auditing has so much in safeguarding the assets of the three selected organizations; Broadcasting Corporation of Abia State (B.C.A) board of internal revenue Umuahia and Aba headquarters and ministry of finance. It was also revealed that Internal Auditors gives advice on financial matters to the management of the three selected government establishments. It was also found that most problems facing internal auditors at the course of discharging their duties are poor staffing, financial constraints, poor remuneration and lack of mobility. In conclusion, the researcher offered some suggestions and recommendation that if the management of the three organizations will implement it will be able to prevent fraud and these will increase the survival rate of the establishment


TABLE OF CONTENTS

Declaration

Certification ii

Dedication iii

Acknowledgement iv

Table of Contents v

Abstract X

Introduction 1

Background of Study

Statement of Problem

1.3 Research Questions 4

1.4 Objectives of the Study 4

1.5 Significance of the Study 5

1.6 Research Hypothesis 6

1.7 Scope of the Study 6

1.8 Limitations of the Study 7

1.9 Definition of Terms 7

Chapter Two

Literature Review 9

2.1 introduction 9

2.2 Meaning of an Audit 11

2.3 Relevance of Auditing 13

2.4 Types of Auditing 14

2.5 History of Internal Auditing 15

2.6 The Role/Duties of Internal Auditors 17

2.7 Management Control in Public Sector 20

2.8 Internal Auditing Versus Public Sector Management 21

2.8.1 The Golden Principle That State the Code of Ethics for Internal

Auditors in Government Establishment. 22

2.8.2 Role of Internal Audit in Good Governance 24

2.9 Internal Auditing Versus Fraud Prevention 26

2.94 Who Is Responsible For Fraud Prevention 27

2.10 How Can The Risk Of Fraud Occurrence Be Reduced In

Government Establishment. 28

2.11 Problems of Internal Audit 31

2.11.1 Economic Implication of Ineffective Auditing System In

Public Sector Management. 32

2.11.2 Reasons For Ineffectiveness Of Internal Auditing In The Public

Sector Management Are As Follows: 33

2.11.3 Suggested Solution Towards Overcoming The Problems

Identified Above Can Be Summarized As Follows: 35

Chapter Three

3.1 Research Design 37

3.2 Instrument Used 38

3.3 Collection Of Data 38

3.3.1 Primary Data 38

3.3.2 Secondary Data 39

3.4 Research Population And Sample Size 39

3.5 Analysis Techniques 39

3.6 Sample Size Determination 40

3.7 Analysis Hypothesis 41

Chapter Four

4.0 Presentation And Data Analysis 42

4.1 Data Presentation and Data Analysis 42

4.1: internal Auditing Machinery Of The Selected Establishment;

How Does It Achieve Optimum Enduring Accountability. 43

Table 4.1: Mean Score On Internal Auditing Machinery Used By The

Selected Establishment For Achieving Enduring Accountability; 43

4.2 Internal Audit Function Detects And Prevents Fraud. 44

Table 4.2 Internal Auditing Discloses Financial Clumsiness Of Management. 44

4.3 Mean score on if internal auditing discloses financial

clumsiness of management 46

4.4 Effect Of Internal Auditing On The Overall Performance 47

(Growth) In Government Establishment;

Table 4.4.1 Mean Score On The Effect Of Internal Auditing On The

Overall Performance (Growth) Of Government Establishment. 48

4.501nterna1 Auditors Is Faced With Constraints in Discharging their Duties 49

4.6 testing hypotheses 50

Chapter Five

Summary Of Findings, Conclusion And Recommendation 53

5.0 Introduction 53

5.1 SummaryofFindings 53

5.2 Discussion of Some Findings by the Researcher 54

5.3 SummaryoftheStudy 56

5.4 Conclusions 56

5.5 Recommendation 57

References

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APA

OJINGWA, M (2021). The Role Internal Auditing In The Prevention Of Fraud And Survival Of Government Establishment (A Study Of Three Selected Government Establishments). Mouau.afribary.org: Retrieved Oct 31, 2024, from https://repository.mouau.edu.ng/work/view/the-role-internal-auditing-in-the-prevention-of-fraud-and-survival-of-government-establishment-a-study-of-three-selected-government-establishments-7-2

MLA 8th

MARY, OJINGWA. "The Role Internal Auditing In The Prevention Of Fraud And Survival Of Government Establishment (A Study Of Three Selected Government Establishments)" Mouau.afribary.org. Mouau.afribary.org, 01 Jun. 2021, https://repository.mouau.edu.ng/work/view/the-role-internal-auditing-in-the-prevention-of-fraud-and-survival-of-government-establishment-a-study-of-three-selected-government-establishments-7-2. Accessed 31 Oct. 2024.

MLA7

MARY, OJINGWA. "The Role Internal Auditing In The Prevention Of Fraud And Survival Of Government Establishment (A Study Of Three Selected Government Establishments)". Mouau.afribary.org, Mouau.afribary.org, 01 Jun. 2021. Web. 31 Oct. 2024. < https://repository.mouau.edu.ng/work/view/the-role-internal-auditing-in-the-prevention-of-fraud-and-survival-of-government-establishment-a-study-of-three-selected-government-establishments-7-2 >.

Chicago

MARY, OJINGWA. "The Role Internal Auditing In The Prevention Of Fraud And Survival Of Government Establishment (A Study Of Three Selected Government Establishments)" Mouau.afribary.org (2021). Accessed 31 Oct. 2024. https://repository.mouau.edu.ng/work/view/the-role-internal-auditing-in-the-prevention-of-fraud-and-survival-of-government-establishment-a-study-of-three-selected-government-establishments-7-2

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