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

EFFECT OF CHRONOMODULATED ARTESUNATE ON RENAL AND HAEMATOLOGICAL TOXICITY IN CISPLATIN-TREATED WISTAR RATS

ABSTRACT

Cisplatin is a non-cell-cycle dependent chemotherapeutic agent used in the treatment of several common solid tumours. However, a...

Read more
PROBLEM AND PROSPETS OF SMALL SCALE FISH FARMERS IN EDO STATE: A CASE STUDY OF OVIA NORTH EAST LOCAL GOVERNEMNT AREA OF EDO STATE

INTRODUCTION

The story of aquaculture in Nigeria is essentially the story of catfish culture and the hope of fish supply...

Read more
IMPACT OF GOVERNMENT’S POVERTY REDUCTION PROGRAMMES IN NIGER STATE

ABSTRACT

This study examined the Impact of Government’s Poverty Reduc...

Read more
EVALUATING THE EFFECTIVENESS OF ONLINE LABS IN TECHNICAL TRAINING

Abstract: This research evaluates the effectiveness of online labs in technical training in...

Read more
EVALUATION OF THE USE OF TENDERS IN PUBLIC SECTOR PROCUREMENT

ABSTRACT

The subject matter of this study is to carefully evaluate the use of tenders in the public sector procurement....

Read more
PROBLEMS FACING SMALL AND MEDIUM SCALE ENTERPRISES IN OBTAINING BANK LOANS

ABSTRACT     

This research work aims at investigating the problems encountered by small and medium...

Read more
THE ROLE OF BUDGETING IN FINANCIAL DECISION-MAKING

THE ROLE OF BUDGETING IN FINANCIAL DECISION-MAKING

This study aims to: (1) investigate the role of budgeting in financial decision-making...

Read more
STRATEGIES FOR IMPROVING INSTRUCTIONAL DELIVERY IN THE TEACHING AND LEARNING OF AGRICULTURAL SCIENCE IN JUNIOR SECONDARY SCHOOL

Background of the Study

Over a century ago, Nigeria was an agro-economy-based nation. Then Nigerian eco...

Read more
PHARMACOLOGICAL INTERACTION BETWEEN ETHANOL EXTRACT OF MORINGA OLEIFERA LEAVES AND METFORMIN IN ALLOXANINDUCED HYPERGLYCAEMIC WISTAR RATS

Abstract

Herbs with anti-diabetic activity could initiate interactions if used concurrently with orthodox drugs. Moringa oleifera is one...

Read more
EFFECT OF POPULATION GROWTH ON UNEMPLOYMENT IN NIGERIAN ECONOMY

ABSTRACT

This thesis examines the effect of population growth on unemployment in Nigeria using Autoregressive Distributed Lag Bounds (ARD...

Read more
Share this page with your friends




whatsapp