Department of accountancy, the malawi polytechnic, 2017
Internal audit function plays a major role in achieving organizational goals. Internal audit func... more Internal audit function plays a major role in achieving organizational goals. Internal audit functions need to be operated effectively in order to add value to the organisation. Internal auditors help in identifying risks and inefficiencies in organisation and recommend controls to mitigate those risks. The study aimed to assess factors that would contribute to an effective internal audit function in Malawian commercial banks. The objectives were to assess the extent of internal auditor’s competency; to examine the extent of internal auditor’s independence and objectivity and to identify the level of improvement in the financial performance of commercial banks operating in Malawi. The study adopted descriptive design. It targeted 40 personnel from all the commercial banks by selecting 4 people from each bank. The main focus was 2 individuals from the internal audit function; 1 from risk department; and 1 from management. Purposive sampling was employed and questionnaires were used. The study revealed that there is a high correlation between the factors assessed and effectiveness of an internal audit function. The study also found that the function doesn’t only satisfy the legal need to have internal audit function in commercial banks but it also adds value.
Department of accountancy, the malawi polytechnic, 2017
Internal audit function plays a major role in achieving organizational goals. Internal audit func... more Internal audit function plays a major role in achieving organizational goals. Internal audit functions need to be operated effectively in order to add value to the organisation. Internal auditors help in identifying risks and inefficiencies in organisation and recommend controls to mitigate those risks. The study aimed to assess factors that would contribute to an effective internal audit function in Malawian commercial banks. The objectives were to assess the extent of internal auditor’s competency; to examine the extent of internal auditor’s independence and objectivity and to identify the level of improvement in the financial performance of commercial banks operating in Malawi. The study adopted descriptive design. It targeted 40 personnel from all the commercial banks by selecting 4 people from each bank. The main focus was 2 individuals from the internal audit function; 1 from risk department; and 1 from management. Purposive sampling was employed and questionnaires were used. The study revealed that there is a high correlation between the factors assessed and effectiveness of an internal audit function. The study also found that the function doesn’t only satisfy the legal need to have internal audit function in commercial banks but it also adds value.
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Papers by john chilima
The study adopted descriptive design. It targeted 40 personnel from all the commercial banks by selecting 4 people from each bank. The main focus was 2 individuals from the internal audit function; 1 from risk department; and 1 from management. Purposive sampling was employed and questionnaires were used.
The study revealed that there is a high correlation between the factors assessed and effectiveness of an internal audit function. The study also found that the function doesn’t only satisfy the legal need to have internal audit function in commercial banks but it also adds value.
The study adopted descriptive design. It targeted 40 personnel from all the commercial banks by selecting 4 people from each bank. The main focus was 2 individuals from the internal audit function; 1 from risk department; and 1 from management. Purposive sampling was employed and questionnaires were used.
The study revealed that there is a high correlation between the factors assessed and effectiveness of an internal audit function. The study also found that the function doesn’t only satisfy the legal need to have internal audit function in commercial banks but it also adds value.