Assessment Of The Effects Of Internal Audit Practice On Corporate Policy Implementations In Nigeria: A Study Of Selected Private Enterprises In Imo State

ABSTRACT

This research study dealt on "Assessment of the effects of internal Audit practice on corporate policy implementation in Nigeria" (A study of selected private enterprises in Imo State). The purpose of this study is to investigate and assess the effects of internal audit practice on corporate policy implementation. The required data for this study were obtained from primary and secondary data sources. While the statistical tools applied in this study were simple percentage and frequency tables, chi-square (X2) and spearman Rank order correlation coefficient (r'). At the end of general analysis of the responses (data) received from the respondents, the conclusion includes: It was accepted that there is a significant relationship between internal audit practice and corporate policy implementation. That, there is a gap between internal audit practice and corporate policy implementations in Imo State. That, irregularities and fraud resulting from poor internal practices caused the gap between internal audit practice and corporate policy implementation. It was agreed in this study that internal audit practice affects corporate policy implementations to a great extent, finally, it was discovered that effective and efficient internal audit practice strengthens corporate policy implementation. From the above, draw conclusions, the recommendation include that; private enterprises should practice internal auditing to enhance management efficiency. Business organizations should adopt effective internal audit practice to reduce irregularities and fraud. That, internal audit department should be independent of managerial influence. Finally, it was recommended that there should be adherence and compliance to internal audit standards and procedure in corporate organizations.