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AN ASSESSMENT OF INTERNAL CONTROL AUDIT ON THE EFFICENCY OF PUBLIC SECTOR IN KOGI STATE NIGERIA
Abstract
Internal audit system plays a key role in the assurance chain towards financial accountability. Therefore, the purpose of this study is to provide evidence on the perception about the effectiveness of internal audit accountability in the Nigerian public sector. In other to carry out a proper assessment, the research is centered on the use of auditing to improving public sector management using Kogi State ministry of finance. It also ascertained the extent to which accountability, effectiveness and efficiency of audit mechanism are being promoted in Nigeria. Data were gathered through questionnaires administered to the staff of the state’s Auditor-General’s office, together with an interview with the Auditor-General of the State on the problems facing the audit and accountability system of the state. Cross tabulations and Chi-square were used to analyze the data. We found out that the internal audit can effectively check fraud and fraudulent activities in the Public Sector and that Public Sectors in Kogi State have significant numbers of Internal Audit Departments to function effectively. It is recommended that Government should provide an adequately equip staff with electronic data processing and also maintains an environment within which internal auditors can have sufficient freedom to accomplish their task efficiently. The study also revealed that the internal control systems in the state are very weak; audit procedures and accountability are as well ineffective due to political interference and skills of some auditing staff. Based on the findings, an effective internal control system free from interference is needed. There is also the need for upgrading the skills of auditing personnel and also strict adherence to statutory and professional standards. Some of these changes require political will at both Federal and State government level
Keywords: Accountability, Public Sector, effectiveness internal auditing, management, and fraud prevention