The Role of Internal Audit in Detecting Fraud: The Case of Ethiopian Budgetary Public Sectors
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Date
2016-01
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Addis Ababa University
Abstract
Internal audit is important as an essential internal assurance mechanism in controlling fraud in
budgetary Public sectors. In addition, it assists government organizations to achieve
accountability and integrity, improve the implementation of government programs and develop
confidence among citizens and stakeholders as well as to offer any risk of mismanagement of
public fund. The scope of this study covers the role of internal audit in Federal Ministries and
Government Universities to fight fraud. This study employs a cross sectional survey to
investigate the role of internal audit and descriptive statistic was used to analyze the data from
the survey. This study examined the Role of Internal Audit in Detection and Prevention of Fraud
in Ethiopian budgetary Public sectors. The survey found out hat there is insufficient auditors’
competence and independence problem toward the usefulness of internal audit work to detect
and prevent fraud. It also determined the internal audit risk assessment that contributes in
detection and prevention of Fraud. The study concluded that Internal Audit of budgetary Public
sector slack sufficient competence and independence to prevent and detect fraud. Fraud risk
assessment is not exercised which support internal audit to control fraud. As a result, the role of
the internal audit in fraud prevention and detection is minor.
Keywords: Internal Audit, public budgetary sector, Fraud Detection and prevention.
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Keywords
Internal audit; public budgetary sector; fraud detection and prevention