ABSTRACT
The study is an insight on the
role of internal audit in the public sector performance of the Nigeria economy.
The study views the entire public sector at large but with emphasis on the
Federal Medical Center, Umuahia. The study identified that despite the legally
stipulated function of internal audit which is to verify and examine the
documents of accountability, executed by an auditor with the objective of
providing him th ability to express an opinion of those documents in such a way
as to provide them with greater credibility, yet their has been reported cases
of losses of government assets. The Chi-Square (X2) statistical tool was used
and questionnaires administered to 40 respondents in various cadres of the
audit dept. of Federal Medical Centre, Umuahia. The study found out that
internal audit has not significantly affected public sectors performance.
Performance could be measured in tern s of efficient and effective service
delivery and increase in internally generated revenue (IGR). The study also
identified such factors as non independence of the internal auditor, biased and
dishonest internal auditor due to the circumstances and environment he finds
himself, as the factors responsible for time lapses. Finally, the study found
out that inefficient internal audit and internal control systems has hampered
reports. To curb such anomalies, the study suggested that there should be a
total independent of internal auditors in the discharge of their duties, also
the World Bank recommendation in proper public expenditure management and
control should be strictly followed by government institutions. Further
suggestions are need for qualified, experienced and honest internal audit
personnel, and the strict compliance to due process in public procurement in
government institutions.
IMMANOCHIE, G (2021). The role of internal audit in public sector institutions in Abia state: a study of Federal Medical Centre, Umuahia.. Mouau.afribary.org: Retrieved Nov 26, 2024, from https://repository.mouau.edu.ng/work/view/the-role-of-internal-audit-in-public-sector-institutions-in-abia-state-a-study-of-federal-medical-centre-umuahia-7-2
G., IMMANOCHIE. "The role of internal audit in public sector institutions in Abia state: a study of Federal Medical Centre, Umuahia." Mouau.afribary.org. Mouau.afribary.org, 28 Jun. 2021, https://repository.mouau.edu.ng/work/view/the-role-of-internal-audit-in-public-sector-institutions-in-abia-state-a-study-of-federal-medical-centre-umuahia-7-2. Accessed 26 Nov. 2024.
G., IMMANOCHIE. "The role of internal audit in public sector institutions in Abia state: a study of Federal Medical Centre, Umuahia.". Mouau.afribary.org, Mouau.afribary.org, 28 Jun. 2021. Web. 26 Nov. 2024. < https://repository.mouau.edu.ng/work/view/the-role-of-internal-audit-in-public-sector-institutions-in-abia-state-a-study-of-federal-medical-centre-umuahia-7-2 >.
G., IMMANOCHIE. "The role of internal audit in public sector institutions in Abia state: a study of Federal Medical Centre, Umuahia." Mouau.afribary.org (2021). Accessed 26 Nov. 2024. https://repository.mouau.edu.ng/work/view/the-role-of-internal-audit-in-public-sector-institutions-in-abia-state-a-study-of-federal-medical-centre-umuahia-7-2