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Independence and Performance of Internal Audit in Public Sector Organizations

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Abstract

This paper has focused much on the independence and performance of internal audit in public sector organizations. The research objectives of this project are to examine the relationship between internal audit and the management in all council operations, to assess effectiveness of internal audit controls both existing and proposed functions, to examine challenges faced by Ifo municipality in upholding independence of internal audit and accountability including management’s behaviour, to determine types of internal audit and their subsequent efficient methods at the council, to investigate how size and resourcing of internal audit affect objectivity and efficiency and to recommend strategies of establishing an effective and independent internal audit. In the literature review methods of measuring the effectiveness of internal audit activity were discussed in detail. This study provides empirical evidence as to the main factors influencing internal audit independence. I
Introduction

The purpose of this chapter as the opening interval is to envelop the background to the study,

thus the dramatic environment where the research is being taken, a statement of the problem

demonstrating the problems which drove the need for research. Other crucial aspects such as

research objectives, research purpose, and aim and research questions will also be covered in the

opening episode. The section has also wrapped the delimitation of the study, limitations,

definition of terms and a summary. This would be of major importance to various entities such as

the general public mainly residents, local authorities mostly Ifo municipality.1.1 Background of the study

Internal auditing has gradually become a crucial profession in good governance especially in

public sectors. However, much emphasis has been credited to external auditing which left

importance and independence of internal audit a nagging question in the minds of many.

Independence is the cornerstone of the internal auditor’s profession. Proficient and qualified

auditors draw their significance and credibility from the deep-seated postulation of independence

of behaviour, mentality, appearance and functionality. Preamble research of auditing and its

purpose for many years has been designed for the context of external audit. Apart from this,

countless record keeping errors, asset misappropriation and fraud has escalated the need for

autonomy and impartiality of internal audit. The inspiration for this study is mainly channelled to

the gradually transforming duties, functions and growing responsibilities of internal audit in local

authorities. Independence of internal audit is the most distinctive corporate governance’s

transparent and accountability mechanism .The main functions of internal auditing are financial

controlling, management, internal safe guarding of funds and assets, internal consultancy service

and risk management .

Much emphasis has been put on effective components of public good governance relating to

internal audit. Effective powers and authority has been mandated to external auditors than

internal auditors. Furthermore, according to Stewart and Subramaniam (2009) the main rationale

why internal auditors have grown in importance is that they reduce self-review, social pressure,

economic interest, personal relationship and familiarity, cultural and cognitive biases. They also

produce and identify a variety of safeguards against these threats. The current situation in the

world is full of substantial pressures on public finances and resources; this demand requires all

national and local authorities to manipulate public resources objectively and efficiently with a

developmental vision, ensuring that essential basics have been given brisk attention. The

pressures of fraud, corruption and misuse of resources have been evidenced by workshops of

Public Internal Control Systems worldwide for instance, the European Union compendium

which was initiated by 27 countries in order to refurbish internal audit operations in public sector

organizations, according to the compendium of Public Internal Control Systems of European

Union members (2012). More over the Southern Africa Development Commission Protocol on

Corruption (2001) emphasised much on the improvement of public sector auditing in order to

promote economic development among its member states.1.2 Statement of the problem

There have been many descriptions on operations of internal audit. Internal audit as a

department within an organization is responsible for examining all financial and non financial

transactions of an organization to ensure that there is adherence and compliance. The

establishment of internal audit as an independent department within an organization is to make

sure there is efficiency and effectiveness in service delivery because issues of service delivery

are at the centre of good governance nowadays.

Most of the public sector management working papers do not provide adequate documentation

because of this problem. Staff of the internal audit department is not well remunerated and it

makes them to lack interest in their work. Many adduce the argument that internal auditors being

employees in public sector do not have the liberty to exercise the unbiased and independent

attitude so necessary to an auditor.

In the heat of controversies for inept public sector performance, hence, this research into the

effectiveness of using internal audits as instrument of improving public sector management.1.3 Research Objectives

ï‚· To examine the relationship between internal audit and the management in all council

operations.

ï‚· To assess effectiveness of internal audit controls both existing and proposed functions.

ï‚· To examine challenges faced by Ifo municipality in upholding independence of internal audit

and accountability including management’s behaviour?

ï‚· To determine types of internal audit and their subsequent efficient methods at the council.

ï‚· To investigate how size and resourcing of internal audit affect objectivity and efficiency.

ï‚· To recommend strategies of establishing an effective and independent internal audit.1.4 Research Questions

ï‚· What is the relationship between management and internal audit towards establishment of

independent internal audit?

ï‚· How effective are the present and proposed internal audit functions, checks and controls?

ï‚· What are the challenges faced by Ifo municipality in establishing independent internal audit

including management’s behaviour?

ï‚· Which types of audits does internal audit at Ifo municipality use in examining compliance

and how does management subsequently accept them?

 How do the size, resourcing and attitude of management affect achievement of council’s

goals and functionality of the internal auditors at the municipality?

ï‚· What are the recommendations to establish independent, objective and effective internal

audit at Ifo municipality?1.5 Significance of the Study

The significance of internal auditing has grown in importance. This research may be capable of

providing constructive and functional glow to various stakeholders. It may fabricate procedures

and mechanisms of improved accountability and transparent operations to residents on effective

resource use. National government, as the central authority may realize the importance of

establishing strong internal auditing progression and internal audit committee rather than putting

much emphasis on external auditing. Furthermore, the research will discover financial and assets

policy areas which are in need of attention, unfolding drawbacks and areas of improvement.

Apart from this, Ifo municipality may instigate and extract the validity of this research to be of

great magnitude considering improved record keeping, asset and cash receipting, use of

accounting methods which are compatible with the modern technology, improved transparency

through electronic government (e-government) and to improve on social accountability

mechanisms .In addition, the research may help the stakeholders to realise their importance, role

and responsibility in enhancing independent effective internal auditing methods. Moreover, the

local authority may formulate by laws supporting the national fiduciary functions of public

sector accounting officers. They may use this research to improve the size, competence,

equipment and attitude of management and councillors towards the internal audit department.1.6 Limitations

ï‚· The research was limited due shortage of resources such as time and funds. The inadequacy

of these two resources confined the accuracy and scope of this research. In this context, the

researcher ensured that 6 interviews were done in a day and also administration of

questionnaires and interviews at some point were done simultaneously in order to be time

effective.

ï‚· Various executives and representatives have hidden useful information arguing that

information about independence of internal audit is crucial, private and confidential. The

researcher used communication and education as a panacea to this challenge by explaining to

audit officials that the information is for pure academic reasons and shall remain convinced

and undisclosed to unauthorized persons.1.7 Definition of terms

 Independence – a virtue whereby one’s judgment is not affected by a circumstance or

relationship Mallin (2009).

 Auditing – are procedures in which independent third parties systematically examine the

evidence of adherence of some practices to set norms and standards of business. Auditing is the

accumulation and evaluation of evidence about information and established criteria Zhou and

Zinyama (2012).

 Internal auditor- an employee who is mandated with the responsibility of examining

organization’s position of financial transactions and assets who is permanently employed in

auditing as one’s lifetime profession within the same organization earning stipulated salary

every month, Brody and Lowe (2000).

 Corruption- abusing public resources for non public and personal gain, Networks (2004).

 Stakeholders- a corporate fraction that can affect or be affected by the actions of the community

or organization as a whole, without whose support the organization would cease to exist.

Dankovetal (2014)

 Risk- is the potential negative anticipated that is undesirable and leads to loss. Matzenbaum

(2002)



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