Challenges Facing Internal Audit Function the Case of Oromia Public Enterprises
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Date
2019-01
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Addis Ababa University
Abstract
The main objective of this research was to investigate challenges facing the internal audit
function that influence the oromia public Enterprises to tail their internal audit activities. The
research was conducted on nine public Enterprises at head office level. Twenty internal auditors
were used as data source who were selected using convenience sampling techniques. To obtain
the required information open- ended and closed ended questionnaires was used as data
gathering tools. Then quantitative and qualitative approaches were employed to analyze and
interpret the filled in data. The findings related to challenges delaying adequacy of internal
auditing revealed lack of independence, inadequacy of internal control system, inadequate skills
among internal auditors, inadequate facilities at the internal audit department, inadequate funds
to carry out internal audit, inadequate cooperation among role players, external auditors
reluctance on works of internal audit, the lack of an audit action monitoring processes,
inadequacy on segregation and appointments of duties as well as lack of commitment from
management staffs were critical factors influencing internal audit functions of the respective
public enterprises. To alleviate those problems, it is recommended that management, audit committee
and the audit process owner of the respective public enterprises has to work jointly to improve the IAF of
their respective public enterprises as per rules, regulations and requirements of international standards
Description
A Thesis Submitted to the College of Business and Economics Addis Ababa University, in Partial Fulfillment of the Requirements for the Masters of Degree in Accounting and auditing
Keywords
Audit, Internal Audit, Oromia, Public enterprises