The effectiveness of internal auditors in detection of financial irregularities: an empirical examination of its determinants in organisations in Ghana
by Ebenezer Agyemang Badu; Peter Kwame Kuutol
African J. of Accounting, Auditing and Finance (AJAAF), Vol. 2, No. 4, 2013

Abstract: The internal audit function as a corporate control mechanism is available to management to address among other things financial irregularities; however despite the presence of the internal audit unit, financial irregularities still exist in both private and public organisations. This is supported by numerous Auditor General's reports in Ghana over financial irregularities. This study was therefore aimed at examining the determinants of internal auditor's ability to effectively detect financial irregularities in organisations in Ghana. Questionnaires were sent to 60 organisations that conducts internal audit. Findings showed that three of the variables (independence, quality of work and top management support) in the research are statistically insignificant on ability to detect financial irregularities. Four of the variables (professional proficiency, career advancement, personality traits and skills and control environment) in the study are statistically significant. Also, whereas quality of work showed a positive relationship with the dependent variable, independence and top management support showed negative relationship. Career advancement and personality traits and skills proved to be positively related and professional proficiency and control environment depicted negative relationship.

Online publication date: Tue, 29-Jul-2014

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