ABSTRACT
The variable instrument for the control of the organizational
resources is the internal control, which has internal audit as its
instrument. This important father makes the researcher to choose
“Internal auditing as an instrument for effective management”.
For this project on institution of management and technology (IMT)
Enugu as a case studying, the researcher made use of both primary and secondary
data. Structured questionnaires were the method used for the collection
of primary data. Secondary data were also collected from textbooks and
form various libraries. Chi-squares was used as a statistical tool for
analyzing the data.
It was discovered from the research that internal auditing is an
indispensable instrument for effective management interferes with the function
of the internal audit duties in the institution. Also lack of information
contribution to the misappropriation of funds and properties of the
organization.
The researcher recommend that internal auditors should be persons
who are well trained experienced and of good moral standing for proper
recognition.
On that note, the management should not interferes with the duties
and proper working of the internal audit unit.
TABLE
OF CONTENTS
CHAPTER ONE
1.1 Background of the study
1.2 Statement of the problem
1.3 Objective of the study
1.4 Scope of the study
1.5 Research questions
1.6 Null hypothesis (ho)
1.7 Significance of the study
CHAPTER TWO
2.0 Review of related literature
CHAPTER THREE
3.0 Methodology
3.1 Research design
3.2 Area o the study
3.3 Population of the study
3.4 Sample and sampling procedure
3.5 Instrument for data collection
3.6 Validation of the instrument
3.7 Reliability of the instrument
3.8 Administration of the instrument
3.9 Method of data analysis
CHAPTER FOUR
4.0 Data presentation and
result
CHAPTER FIVE
5.0 Discussion of results
5.1 Discussion
5.2 Conclusion
5.3 Implication of the study
5.4 Recommendation
5.5 Suggestions for further research
5.6 Limitation of the study
APPENDIX
REFERENCES
CHAPTER
ONE
1.1 INTRODUCTION
The function and the existence of internal audit department in
organisation cannot be over emphasized considering the enormity of trust and
responsibility attached to this department of an organisation. This
brings to mind why the writers chose to research on the subject, internal
auditing as an instrument for effective management.
Internal auditing becomes necessary as a result of the extended
span of control faced by the management concerning the employment of men and
material in the conduct of organizational affairs. The work of the
internal audit are very important in most modern organizations and have trust
of responsibility to advice the management and enforce the operations of
internal control, and the internal checks in the organisation. The inefficiency
in the organisation during day to day activities are controlled.
The internal audit is the independence appraisal activity in the
organisation as a service to the management. The duties are usually
defined by the management and these includes:
Ø Measurement
of the adequacy and effectiveness of the internal control system on a
continuous basis;
Ø Routine
checks to prevent and detect errors and frauds;
Ø Provision
of hireling advice to management on internal control matters;
Ø Investigation
of reported cases of all practices;
Ø Provision
of statiscal data for management information and decision making;
Ø Other
special assignment such as asset disposal, staff audits.
Inspite of this being a seemingly exacting and challenging
function of the internal audit department. In some organizational, the
management starve the internal auditor of funds, staffing and training.
It is necessary for internal audit to have credibility by having
as internal auditors persons of interrity.
The above qualities of internal auditors contributed to the
inefficient of the internal audits of the organizations world-wide.
As regards, the problems which usually effects the internal audit
departments, the staff of some organisation treats the internal audit as “blood
hound” and not “watch dogs”. The fraudulent staff would not normaly
corporate with the internal auditors as regard the supply of information which
should be used for the effective checks of the work of the organizations
activities.
The project directs its attention on the institute of management
and technology (IMT) Enugu. The school was established as a result of the
combination of the former college of technology and institute of administration
of East Central State in 1972.
The institute of management and technology (IMT) Enugu came into
being of the 1st July, 1973 as a
result of edict No. 10 of 1973 of the then East Central State Government.
The institute of management and technology has two campus whish is
campus II and III as campus I has been taken over by the Enugu State University
of Science and technology (ESUT) Enugu Nigeria.
The institute of management and technology (IMT) Enugu runs
preliminary studies, such as full-time, part-time and poly-air
programmes. The institute has its head of establishment, the rector of
the institute, the registrar, the accounts and the student’s affairs etc.
The institute of management and technology (IMT) Enugu has under
its various programmes:
Ø School of
business and administration;
Ø School of
Engineering
Ø School of
General Studies;
Ø School of
Technical Teachers Education and;
Ø School of
Continuing Education.
1.2 STATEMENT OF PROBLEMS
The research titled internal auditing as an instrument of
effective management attempts to determine the methods by which some
institution like the institute of management and technology (IMT), Enugu has
utilized internal audit as an instrument for effective management some of these
problems are:
(i) Inability to identify the functions of the
internal audit department;
(ii) Lack of information for internal audit work;
(iii) Non-independent of internal audit work in the
institute and
(iv) Inability to recognize the internal audit as
effective and reliable tools to management in performance of its functions.
1.3 OBJECTIVES OF THE STUDIES
The objective of this work is as follows:
(i) To discover the extent to which the inability to
identify the function of the internal audit department affects institute of
management and technology (IMT), Enugu.
(ii) To find out how lack of information in this
institute affects the internal audit work.
(iii) To determine the extent to which the independent
of the internal audit work is being hampered; and
(iv) To determine whether internal audit is an
instrument for effective management.
1.4 SCOPE OF THE STUDY AND ITS LIMITATION
The scope of this study focuses on the internal auditing as an
instrument for effective management using institute of management and
technology (IMT), Enugu as a case study.
1.5 RESEARCH QUESTIONS
To guide these projects, (4) four research questions were
formulated as follows:
(i) To what extent does inability to identify the
function of internal audit department affects the activities of the institute
of management and technology (IMT), Enugu.
(ii) To what extent does lack of information in
institute of management and technology (IMT), Enugu affects the internal audit
works;
(iii) To what extent does independence of internal
audit work is being hampered; and
(iv) To what extent does internal auditing as an
instrument for effective management in institute of management and technology
(IMT), Enugu.
1.6 NULL HYPOTHESIS (Ho)
The hypothesis of this work include:
Ho1:
Inability to identify the functions of the internal audit department does not
in any way affects the management of institute of management and technology
(IMT), Enugu.
Ho2:
Lack of information in the institute of management and technology (IMT), Enugu
does not affect the internal audit work of its management; and
1.7 SIGNIFICANCE OF THE STUDY
This work will be of great benefit to the management of every
institute or firm not only the institute of management and technology (IMT),
Enugu that require effective internal control.
The benefit of internal audit may not be over emphasized due to
detection, control and prevention of waste and fraud in the organisation.
This researcher provides moral influence to protect efficiency and assists
management in dealing prompting with some issues which would have created
problems if left to linger until they come to the attention of the higher
management.
The students of business, research, business executions and the
public institute might find the work interesting.
Department | Education |
Project ID Code | EDU0140 |
Chapters | 5 Chapters |
No of Pages | 55 pages |
Methodology | Chi Square |
Reference | YES |
Format | Microsoft Word |
Price | ₦4000, $15 |
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Contact Us On | +2347043069458 |