Challenges of Internal Auditors in Performing Audit activities in Economic Sector Federal Public Ministries
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Date
2018-02
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Addis Ababa University
Abstract
This study is an attempt to providing an insight to current major challenges of internal auditor’s in performing their audit activities in selected federal ministries. To achieve the objectives of the study primary and secondary data is used. The secondary data mainly government publications and the primary data were collected using questionnaire from 68 respondents in the 8 federal public ministries. And interview is also conducted from the target group. The data is analysed using descriptive study; both qualitative &quantitative methods are used, by applying purposive sampling technique. the major findings reveals that Detailed Audit work program is not prepared & implemented, lack of consistent documented practice in conducting audit engagement and preparing working paper. internal audit reports are not prepared as per the standards, they don’t have full competency in skill and knowledge at the level in which the professions demands to be, there is no special benefit given to motivate them for their unique contribution, staff shortages, lack of awareness & training and recognizing internal auditors as fault finders by management are the main basic challenges internal auditors still encounter in doing the audit engagements. and the study concludes that internal auditors economic sectors public ministries is not implemented the audit activities as per the IPPF standards of internal audit. Thus the study recommends IA should implement audit program, risk assessment as part of audit planning, continuous professional developments, and improvement of auditors remuneration and fringe benefits to encourage performance.
Description
A research project submitted to the department of Accounting & finance for partial fulfillment of the requirements of masters of Science degree in Accounting and Auditing.
Keywords
Executions, Competence & job satisfactions, Independence