THE ROLE OF INTERNAL AUDITING DEPARTMENT IN A HIGHER INSTITUTION OF LEARNING (A CASE STUDY OF I.M.T). A RESEARCH PROJECT MATERIAL ON ACCOUNTING
This research work was undertaken to ascertain the roles, which an internal audit department can play in higher institutions of learning in the institute of management and technology I.M.T Enugu.In chapter one, you will the purpose of study, statement of problem, importance, scope and limitation of the study. The purpose of study was to find out the functions of internal audit department and how far these functions have contributed to the overall performance of this institution. Others include whether the internal audit department encounter any problem in the discharge of their duties and the consequence of not having internal audit department in an organization at all.In chapter two, it is the review of related literature, that is the review of the previous work of other authors, researches newspaper. In this chapter, you will find the definition, the importance, objectives and the functions of internal audit department in this institution.In chapter three is the research design and methodology. It analysis the sources of data location of data, method of investigation and collection. Chapter four is the data analysis and presentation. Also have you will see the answers of the ten distributed questionnaire that was answered by the staffs of I.M.T.While in chapter five the researcher stored the view that if an internal audit department is established in higher institution of learning, it will contribute immensely towards the overall performance of the institution. Through minimizing fraud and extravagant use of funds and inducing workers to give complete and accurate information.
1.1 BACKGROUND OF THE STUDY
The role of internal audit has grown tremendously in most organizations in the recent past. This can be attributed to the growths of the organizations that extends widely extended operations and the need to ensure that the organizations policies and basic accounting controls are observed at every part of the organization. Again it can be observed as a measure by management to ensure that the government regulations concerning the operations of organization, both public and private are duly complied with so as to safe guard confect and inconsistencies with the law.
As the organization expands, the supervisory responsibility boarders. The herd can no longer have personal knowledge of every aspect of the organization. It becomes impossible for him to monitor the continuing effectiveness of all controls. This calls for the delegation of this responsibility to a separate department in the organization; one of these departments is the internal audit department.