Assessing the Reliability of the Internal Audit Functions: The Issues

  • OKODO, Benedict Dozie Department of Accounting, Faculty of Management Sciences University of Benin, Benin City, Edo State, Nigeria
  • ALIU, Momodu Mohammed Department of Accountancy, School of Business Studies, Auchi Polytechnic, Nigeria
  • YAHAYA, Adabenege Onipe Department of Accounting and Management Faculty of Arts and Social Sciences Nigerian Defence Academy, Nigeria

Abstract

This paper examines the issues in internal audit reliability. It specifically provides conceptual and practical insights into some of the consequential issues worth pondering about when assessing the reliability of the internal audit functions. Particularly, the paper identified and discussed four (4) of such issues namely: competency of internal auditors, level of management support/influence, independence and objectivity of internal auditors; and regulatory issues. The paper took a conceptual approach and draws its basis from the institutional and protection motivation theories. Based on literature and other documentary evidences, the paper took the position that the four identified factors would most likely influence the internal audit reliability. Among other policy implications, the paper, therefore, proposes a conceptual research framework to be empirically examined by future researchers.
Keywords: Internal auditing, Reliability, Auditor independence and Objectivity
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How to Cite
Dozie, O. B., Mohammed, A. M., & Adabenege Onipe, Y. (2019, April 25). Assessing the Reliability of the Internal Audit Functions: The Issues. Journal of Contemporary Research in Business, Economics and Finance, 1(1), 46-55. Retrieved from http://learning-gate.com/index.php/2641-0265/article/view/30
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