Effectiveness Of Internal Auditing In The. Management Of Public Sector Establishment (A Case Study Of Ministry Of Finance Owerri)

ABSTRACT

The rapid growth in size and complexity of government organization has created the importance if internal auditing, which gave ride to the research. The study was toward the effectiveness of internal auditing in management of public sector. Internal auditing is a management control tool, which is referred as an independent appraisal function for the review of financial report and other system of control. The approach applied is the survey method, which involved the issue of questionnaire and personal interview. Both the primary and secondary sources were used to obtain Data for the research. The population of the study is made up of 178 Employees of Federal Ministry of Finance Owerri and the samples I used is 123 derived with the application of Taro yamani Chi-square was applied for the data analysis of which the hypothesis were tested and accepted. It was discovered that internal auditing is essential for effective management. Although some weaknesses were pointed out; such as unqualified audit personnel, lack of independence, and poor management response to reports. In the view of the above findings, the researcher recommended that qualified audit personnel should be engaged to enhance and maintain a good level of independence and pay adequate attention to the audit reports.