EFFECTIVENESS OF INTERNAL AUDITING IN ENHANCING MANAGERIAL DECISION-MAKING IN TARKA LGA
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Background of the Study
Internal auditing is a critical aspect of an organization’s financial control system. It involves the independent evaluation of financial and operational processes to ensure accuracy, compliance, and efficiency. In Tarka LGA, internal auditing is essential for ensuring that public resources are managed effectively, fostering transparency and accountability in local government operations. The findings from internal audits provide valuable information that can enhance managerial decision-making by identifying areas for improvement, detecting inefficiencies, and ensuring that financial decisions align with the organization’s objectives. This study will evaluate the effectiveness of internal auditing in supporting managerial decision-making within Tarka LGA.
Statement of the Problem
Despite the importance of internal auditing, there may be a lack of thorough implementation or utilization of audit findings in Tarka LGA. This may result in poor financial management, inefficiencies, and suboptimal decision-making. The study will assess the effectiveness of internal auditing in enhancing managerial decision-making in Tarka LGA.
Aim and Objectives of the Study
Aim: To evaluate the effectiveness of internal auditing in enhancing managerial decision-making in Tarka LGA.
Objectives:
- To assess the internal auditing practices in Tarka LGA.
- To examine the impact of internal auditing on managerial decision-making in Tarka LGA.
- To identify the challenges faced by Tarka LGA in implementing effective internal auditing practices.
Research Questions
- What internal auditing practices are employed in Tarka LGA?
- How does internal auditing impact managerial decision-making in Tarka LGA?
- What challenges does Tarka LGA face in implementing effective internal auditing practices?
Research Hypothesis
- H₀: Internal auditing does not significantly enhance managerial decision-making in Tarka LGA.
- H₀: There is no significant relationship between internal auditing practices and the quality of managerial decision-making in Tarka LGA.
- H₀: Challenges in the implementation of internal auditing do not significantly affect managerial decision-making in Tarka LGA.
Significance of the Study
This study will highlight the importance of effective internal auditing in improving managerial decision-making, which in turn will contribute to better financial management and accountability in Tarka LGA.
Scope and Limitation of the Study
The study will focus on the internal auditing practices within Tarka LGA and their effect on decision-making. Limitations may include difficulty in accessing comprehensive audit reports and the possibility of internal biases in audit practices.
Definition of Terms
- Internal Auditing: The independent evaluation of an organization’s financial and operational processes to ensure compliance, accuracy, and efficiency.
- Managerial Decision-Making: The process by which managers identify, evaluate, and select the best course of action for the organization.
- Financial Control System: The procedures and practices put in place to manage and oversee the financial activities of an organization.
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