An Empirical Examination of Challenges Faced by Internal Auditors in Public Sector Audit in South-Eastern Nigeria

Amaechi and Chinedu; AJEBA, 3(2): 1-13, 2017; Article no.AJEBA.33944

13 Pages Posted: 25 Aug 2017

See all articles by Amaechi Egbunike

Amaechi Egbunike

Nnamdi Azikiwe University - Department of Accountancy

Chinedu Francis Egbunike

Nnamdi Azikiwe University - Department of Accountancy

Date Written: August 24, 2017

Abstract

Internal auditors play crucial role in ensuring, accountability, probity and governance of public sector entities. However, the effective performance of such duties would depend on the challenges faced by internal auditors in public sector institutions. The objective of this study is therefore to examine the challenges faced by internal auditors in public sector audit in south-eastern, Nigeria. The study shall specifically examine whether independence of internal auditors, compliance with set out rules and regulations of public fund management and, improper segregation of duties pose a challenge to internal auditors of public sector entities. The study adopted the survey research design. The population of the study was drawn from accountants and auditors in the offices of the Accountant-General and Auditor-General of Anambra State. The study employed Independent-Samples Mann-Whitney U Test technique in testing the formulated hypotheses. The study finds out that while independence and the compliance with set out rules and regulations of public fund management pose a challenge to internal auditors of public sector entities, however, that improper segregation of duties does not pose a challenge to internal auditors of public sector entities. The study recommends that the independence of internal auditors in public institutions should be enthroned. And, secondly, to ensure compliance with rules and regulations of public fund management ensured.

Keywords: internal audit, public sector, audit, accountability

Suggested Citation

Egbunike, Amaechi and Egbunike, Chinedu Francis, An Empirical Examination of Challenges Faced by Internal Auditors in Public Sector Audit in South-Eastern Nigeria (August 24, 2017). Amaechi and Chinedu; AJEBA, 3(2): 1-13, 2017; Article no.AJEBA.33944 , Available at SSRN: https://ssrn.com/abstract=3025271

Amaechi Egbunike (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Chinedu Francis Egbunike

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

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