The contribution of internal audit in achieving integrity and reliability of accounting information: Case study in President office, Public Service Management
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Date
2013
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Journal ISSN
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Publisher
Mzumbe University
Abstract
Internal audit functions plays a unique role in governance process by assuring that risk are effectively identified and monitored, organizational processes are efficient, effectively controlled. However to ensure this contribution this study aimed at evaluating how and through what function does internal audit assist in achieving integrity and reliability of accounting information. Objective of this study was to examine the contribution of internal audit in achieving integrity and reliability of accounting information. The purpose being to understand more internal audit functions and how they can contribute to the integrity and reliability of accounting information. A case study approach was adopted with the PO-PSM as the main case. Information from relevant sources including internal auditors, accountants, member of audit committee, and other stakeholders were collected using questioning and interview method. It was noted that the results of this research was that internal Audit functions contribute to the, the integrity and reliability of accounting information and the findings shows that the function of internal audit was analyzed the accounting information, compliance with law and regulation, checking budget implementation, the reliability and soundness of financial information, unethical behavior and fraud detected and organization strategy. Also the essential element of internal audit analyzed and findings show the internal audit need to be independence, staffing, due care and relationship also the limitation of internal audit was analyzed there is lack of technical knowledge, independence of internal audit unit, shortage of staff, and lack of recognition by management. The general findings of this research shows that internal audit function are well placed in the ministry of President Office, Public Service Management and contribute to the reliability and integrity of the accounting information although there some weaknesses found this is because internal audit function have been introduced in recent year therefore it is the belief of the researcher that contribution of Internal Audit will be strengthen.
Description
A dissertation submitted in partial fulfillment of the requirements for the award of the degree of Master of Science in Accounting and Finance (MSc-A&F) of Mzumbe University.
Keywords
Internal auditing, Accounting information, Public service management, Reliability of accounting information
Citation
APA