Impact of internal auditing on the effective performance of on organization for sustainable development in Nigeria

Abstract

For an organization to be efficient and effective in the discharge of its duty and achievement of its set goals, it needs to have amongst others, good leadership, competent man power, adequate resources and good measures of internal control and internal control is seen as the integrate collection of control mechanism used to achieve a desired result, among which is the internal audit which is an essential element of internal control thus, this paper centres on the impact of internal auditing on the effective performance of an organization. The main objective of this study is aimed at evaluating the role internal audit play in the effective performance of an organization for sustainable development in Nigeria. The research uses both primary and secondary sources of data collection. The survey design was adopted in conducting the study so as to give an insight into the topic understudy. The population of the study comprises of 55 staff of a Local Government area in Kogi State, Nigeria. Taro Yamane formula was used to selecting 48 staff of the LGA as sample size because the nature of financial misappropriation committed in all the local government areas in Nigeria appears to be the same. The analytical tool used in analyzing the data collected for this study is descriptive statistical tools. The descriptive statistical tools used were simple percentages and tables. Analysis of Variance (ANOVA) was used in testing the hypothesis formulated. On testing the hypothesis it was discovered that internal audit has significant influence on the effective performance of an organization for sustainable development. A lot of useful recommendations were made based on the findings of this study among which are appropriate measure should be put in place to checkmate staff who will violate laid down rules, regulation and procedure and adequate orientation should be put in place to orientate staff who sees auditor as people that witch-hunt them or that find faults but that auditors are fact finders.