Practices and Challenges of Electronic Data Process Auditing in Selected Commercial Banks of Ethiopia
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Date
2022-06-24
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A.A.U
Abstract
The main objective of the study was to investigate the practices and challenges of EDP in internal auditing function in case of selected commercial banks, head offices. Descriptive research design was employed to conduct the research with method approach. Participant of the study were 87 and 15 process owners were selected for interview. Questionnaires and structured interview were the instruments used for data collection. Frequency distribution, percentage, mean and standard deviation were used to present, analyze and interpret data in line with each research questions. Based on the study, existence of budget allocation problem in EDP application in internal audit functions, and lack of management support in promoting and encouraging EDP, lack of technical and managerial skills in implementation and development of E-banking technology, lack of social awareness regarding E-auditing services provided, high cost of implementation of E-banking, poorly developed telecommunication infrastructure, lack of law mandating the bank to adopt E-banking technology and lack of suitable legal and regulatory framework for EDP Auditing were considered as factor that has a negative influence on the adoption and growth of E-auditing technology in commercial banks. As per the findings giving more emphases towards the EDP system in audit process, solving infrastructure that challenges EDP in internal auditing, subsidizing the high cost for ICT equipment that challenges banks in introducing E-banking, arranging appropriate program for training, creating deep awareness to employees concerning the role of EDP in internal auditing they offer and the benefits associated with using Electronic services through advertising their services on the internet, mass media as well as through organizing public exhibition and talk shows were recommended