Management Audit in the National Bank of Ethiopia: Challenges and Prospects
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Date
2007-03
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A.A.U
Abstract
This research attempted to look into the current management audit practice
of the National Bank of Ethiopia to assess its organization and performance
thereby find out major challenges and prospects of management audit in
light of recent developments and best practices in the field In the project,
primary data was collected using a survey of two target groups. Secondary
data was also collected from two local best management audit practicing
institutions. It was explored that inappropriate reporting relationship,
absence of approved internal audit charter, lack of training, staff
composition, absence of bank-wide risk management body and inadequate
position classification and salary structure were the major problems to
execute management audit in the NBE. On the contrary, the transformation
has brought many benefits including providing objective assurance on
whether resources are used optimally and operations are performed in
efficient, effective and economical manner; and has contributed its part to
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improve overall institutional performance of the bank by measuring actual/,
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performances of plans against strategic goals and objectives.
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Keywords
National Bank, Ethiopia: Challenges