0704-883-0675     |      dataprojectng@gmail.com

EVALUATION OF THE IMPACT OF INTERNAL AUDITING ON THE PERFORMANCE OF INSURANCE FIRMS IN NIGERIA

  • Project Research
  • 1-5 Chapters
  • Quantitative
  • Regression
  • Abstract : Available
  • Table of Content: Available
  • Reference Style: APA
  • Recommended for : Student Researchers
  • NGN 3000

Background of the Study

Globally, auditing is an independent review of an economic entity that is established by the management of the firm in order to examine the internal control system and report on its ampleness in terms of validity, economics, effectiveness, and the necessary effectiveness in using resources, tests, assessments, and so on. It is of the utmost importance to guarantee that the utilization of public funds is both economically and appropriately efficient, productive, and serves the best interests of society. According to Saidu (2017), internal auditing is regarded as an important component of effective management in all economic units, and it is required in accordance with auditing instructions. Given the widespread need for accountability in the use of resources, particularly public resources, it is difficult to provide a rational justification for the absence of internal auditing, even in small institutions. Internal auditing is one of the requirements for economic entities to operate efficiently.

Olajide (2015), on the other hand, believes that an internal control system must be built to detect and control the extent to which such legal criteria are met. Many managers attempt to enhance their performance and accomplish corporate goals by relying on the performance of internal auditors. In recent years, commercial failures and economic scandals have focused managers' attention on concerns of preserving, regulating, sustaining, and managing effective economic institutions. Because management is alone responsible for preserving assets, preventing mistakes and exploitation, and uncovering them, this obligation necessitates the implementation of adequate internal controls, including internal auditing. The quality that defines the auditing function is determined by two criteria related to the auditor's performance: the auditor's ability (including knowledge, experience, compliance, and technical performance), and professional performance (including independence, objectivity, professional careers , to measure conflict, interests and judgments). The audit quality structure is multidimensional yet ethereal, making it extremely difficult to assess (Millichamp and Taylor, 2016).  Thus , it can be stated that a system or set of controls, whether financial or non-financial is intended to provide reasonable assurance of the proper functioning or fulfillment of the following.

1 The effectiveness or efficiency of the operations

2 . Reliability of the financial infor ; mation and reporting ;

3. Observance of laws and regulations (domestic and national). Therefore, the administrative department or organization that controls and evaluates the function of the above definition can be defined as internal auditing.





Related Project Materials

Analysis of Internet Utilization and its Influence on Undergraduate Students’ Reading Habits and Reading Comprehension

Abstract

This work is focused on analysis of internet utilization and its influence on undergraduate students‟ reading habits and reading...

Read more
THE EFFECT OF CULTURAL DIFFERENCES ON PUBLIC ACCOUNTING PRACTICES

THE EFFECT OF CULTURAL DIFFERENCES ON PUBLIC ACCOUNTING PRACTICES

 

The objectives of this research are to: 1) Explore how...

Read more
THE ROLE OF FINANCIAL INSTITUTION IN ENHANCING BUSINESS ACTIVITIES IN NIGERIA

ABSTRACT

Financial institution has contributed immensely to the development of the economy of Nigeria by enhancing and p...

Read more
IMPACT OF CORPORATE TRAINING PROGRAMS ON ADULT LEARNERS

Abstract: This research investigates the impact of corporate training programs on adult learners, focusing on their effectiveness in enhancing...

Read more
DIFFICULT TEACHING TOPICS IN BASIC SCIENCE IN SECONDARY SCHOOLS IN NIGERIA

 Abstract

This study is on the an analysis of difficult instruction topics in Basic Science at the junior...

Read more
THE EFFECT OF INTERNET CULTURE ON ADMINISTRATIVE EFFICIENCY

Statement of the problem

The objective of assessing the effect of internet culture on administrative ef...

Read more
THE IMPACT OF FISCAL POLICIES ON GOVERNMENTAL ACCOUNTING

THE IMPACT OF FISCAL POLICIES ON GOVERNMENTAL ACCOUNTING: This study aims to (i) evaluate the effects of fiscal policies on governmental accounting...

Read more
THE IMPACT OF PUBLIC SECTOR ACCOUNTING ON GOVERNMENT REVENUE GENERATION AND EXPENDITURE CONTROL ON PUBLIC FUNDS. CASE STUDY OF THE MINISTRY OF FINANCE IMO STATE

Background Of The Study

The public sector is made up of organizations in which the public, as opposed t...

Read more
EFFECTS OF INSTRUCTIONAL RESOURCES ON STUDENTS‟ ACADEMIC PERFORMANCE IN AGRICULTURAL SCIENCE IN SENIOR SECONDARY SCHOOLS IN KADUNA STATE, NIGERIA

ABSTRACT

This study was carried out to determine the effects of instructional resources on students‘ academic performance in agricu...

Read more
MOTHER’S TONGUE AND STUDENTS ACHIEVEMENT IN PHYSICS IN SECONDARY SCHOOLS IN MKPAT ENIN LGA

Background of the Study

Language is a powerful means of communication which has enabled us to be more d...

Read more
Share this page with your friends




whatsapp