Essay On Internal Auditing

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INTERNAL AUDITING AND ITS FUNCTIONS Many people do not want to be checked, they see it as a way of people trying to know their weakness and strength. Many have the perception that internal auditors are policemen, inquisitive and always looking for faults on others to put them in trouble. Such people need to be educated on what internal auditing is and its actual functions for them to have a change of mind. There are a lot of research done on internal auditing in the public sector but much have not been done to ascertain how internal auditing affects public institutions whether positive or negative and if negative how it can be transformed to promote good governance and eradicate corruption also if positive how it can be improved to promote …show more content…

All these can be executed efficiently when the needed support from management is readily available as well as the corporation of the audit client. Internal auditing eases the work of external auditors, saves the organization from misuse of funds, helps management to make productive decisions and ensures that much attention is drawn to the high risk areas to prevent unforeseen events and that internal controls are working effectively. Mainoma, 2007; Dandago, 1999 adds to it that “Auditing is an independent examination of, and the expression of an opinion on the financial statements of an enterprise by an appointed auditor, in accordance with his terms of engagement and the observance of statutory regulations and professional requirements.” According to Okozie, 2004 the main objective of internal auditing is “to assist management in the effective discharge of their responsibilities by furnishing them with analysis, appraisal, recommendations and pertinent comments concerning the activities reviewed”. Vanasco (1996) also concludes that the role of the internal auditor requires unrestricted independence in order to perform a variety of duties for the organization they …show more content…

The attitude of internal auditors towards other staff members is an important aspect of auditing, a cordial relationship but professional attitude should be exhibited in order for the audit client to feel comfortable which makes it easy to assess information for the audit, also gain the trust of the audit client thereby making the audit a successful one. Attributes of internal auditors include competence, objectivity, integrity, and confidentiality. Under no circumstance should an auditor succumb to his or her personal interest or that of the audit client or management members. Also information gathered during audit work should be kept confidential and no over use of power on audit

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