Home»Accountancy» The effect of internal auditing in the management of organization resources (a case study of Imo concord hotel, Owerri, Imo state)

The effect of internal auditing in the management of organization resources (a case study of Imo concord hotel, Owerri, Imo state)

 By:usericon joseph34  

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This is devoted to ascertain the effect of internal auditing in the management of organizational resources: a study of Imo Concorde Hotel, Owerri. A major problem which is the inefficiency and ineffectiveness of staff in the internal audit unit and the lack of independence of the unit has posed a great threat. Data collection techniques employed include personal interview, written questionnaire, and library research while data are analyzed using tables and percentages. Various recommendations were made in a bid to improve the efficiency of internal audit in the management of the organizational resources. The economy today is characterized by incessant frauds, forgeries, and mismanagement of corporate assets. This though a global phenomenon has recorded an outstanding growth in the university segment of the country which becomes a threat that calls for prompt appraising of the internal control system in the institution. Internal audit as an integral part of the internal control system is however weighted down by a lot of factors. The inability to reconcile the accounting system regularly is more or less a haven for fraudulent and scrupulous staff. The point, therefore, is that internal audit should be hastily equipped with competent and qualified staff and modern facilities so as to make it effective in the management of organizational resources....
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