Publication: Internal Audit Function and Performance of Public Entities: A Case Study of Ministry of Finance and Economic Planning
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2013
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Mount Kenya University
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Abstract
The purpose of this study was to find out the contribution of the internal audit function on the performance of Public entities, a case study of the Ministry of Finance and Economic Planning. The specific objectives of the study were to identify different types of audit assignments conducted by the ministry and to examine the relationship between internal audit function and performance of MINECOFIN. The research helped the researcher to gain practical research skills and the report will serve for reference to the MKU community and the entire general public. The study was based on a census design which purposively sampled the respondents from the Office of Government Chief Internal Auditor/MINECOFIN to respond to research questionnaires. The researcher used questionnaires to collect data and made use of the SPSS software to analyze the data. The study found that the internal audit unit is carrying out financial audit, compliance audit, performance auditing and IT audit. It was also revealed that the majority of staff has no specialization in professional courses and the department is under staffed considering its audit universe. Given this scenario, the researcher recommended the ministry to facilitate government internal auditors in pursuing auditing professional courses such as CIA and CISA and the department was advised to increase the number of auditors so as to effectively discharge its mandate.
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Auditing