Challenges and Prospect of Risk Based Internal Audit in Ethiopia Public Institutes: The Case of Selected Federal Organizations
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Date
2019-06
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Addis Ababa University
Abstract
In Ethiopia, even though the history of auditing goes back to 1930’s and the profession has long life in the country but its development is not as expected. Only Preferring the traditional auditing approach rather than risk based auditing approach in the public institutes makes the outcomes so far been ineffective. The study aimed at determining the extent of challenges facing by the federal public institutes in the implementation of risk based auditing and its prospect in public institutes. Scope of the research limited on purposefully selected 12 Federal Public Organizations in Addis Ababa from three categories of the sectors according to their function which are administrative &general service, social and economy sector and purposely selected the ministry of finance (MOF) inspection directorate staff who is regulatory body over the federal public institutes. The methodology were employed in the research is mixed approach (Quantitative and Qualitative data). Data was gathered via questionnaires distributed to internal auditors and an interview with the institutes manager and inspection directorate director and team leader, examination of selected internal audit reports, internal audit annual plan ,OFAG (office of federal audit general )three years 2006/2007,2007/2008,2008/2009 annual audit report and review of policy and procedure manuals and the data was analyzed the descriptive statistics using Statistical Package for Social Science (SPSS version 20)results. The findings of the study revealed that the challenges and prospects of the risk based internal audit in federal public institutes.
Description
A Research project Paper Submitted to College of Business and Economics Department of Accounting and Finance for Degree of MSc in Accounting and Auditing
Keywords
Challenge and prospect, Federal public institutes, Risk based internal auditing