The Effectiveness of Internal Auditing in Public Institutions in Ghana
Akua Korankyewaa, Department of Management, Yangzte University, Jingzhou- Hubei Province, China.
Manuscript received on June 30, 2018. | Revised Manuscript received on August 07, 2018. | Manuscript published on August 15, 2018. | PP: 13-17 | Volume-3 Issue-5, August 2018. | Retrieval Number: E0194073518
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© The Authors. Published By: Blue Eyes Intelligence Engineering and Sciences Publication (BEIESP). This is an open access article under the CC BY-NC-ND license (http://creativecommons.org/licenses/by-nc-nd/4.0/)
Abstract: To examine the elements that constitute effectiveness of internal auditing in public institutions in Ghana and know the ideas or knowledge other staffs have about internal auditing and ascertain their contributions towards making it effective. Qualitative approach was used. Questionnaires were designed for both internal auditors and other staffs. 80 questionnaires were distributed in two public universities and one public hospital. Data gathered were analyzed using percentage. The study showed that management support, independence of internal auditors to operate, availability of resources and evaluation of internal auditors by other staff has a positive influence on effective internal auditing. Also, better training and good working relationship are essential for effective internal auditing. The study was about three public institutions that have internal auditing department in Kumasi in Ghana, audit committee members were not included in the interviews conducted. A further study may involve more public institutions in both cities and local areas and audit committee members. Also, a further study can be on the computerization of internal auditing departments in public institutions. The research suggest the development of software for auditing. Internal auditors should be evaluated by other staff. The elements that constitute effective internal auditing should be important to management and the government. Originality / Value- the outcome of this study will help internal auditors, the government, management, investors, the Internal Audit Agency and the Institute of Internal Auditors.
Keywords: Internal Auditing, Internal Audit Functions, Internal Audit Agency, Public Institutions.