The importance of internal auditors in maintaining robust financial controls and risk management in government Department: Accountancy By: AdeleyeJoshua Project ID: 9537 Rating: (5.0) votes: 1Rate this project12345 Price:₦5000 Get the Complete MaterialAbstractThis study examines the importance of internal auditors in maintaining robust financial controls and risk management in government, using Lokoja Local Government as the study area. The objectives of the study include: To examine whether internal auditors can maintain robust financial controls and risk management in Lokoja Local Government Area, to assess whether robust financial controls and risk management can enhance the performance of Lokoja Local Government Area and to determine whether there is a significant relationship between internal auditors and financial control/risk management in Lokoja Local Government. The study is anchored on policing and risk management theories. survey research design was adopted, while data were collected through the use of both primary and secondary sources of data collection. Simple percentage table was used to analyze the data and hypotheses were tested with an ANOVA regression model. Findings revealed that the internal auditor maintains robust financial controls and risk management in Lokoja Local Government Area by strengthening internal control and enhancing risk management in Lokoja LGA. They ensure financial accountability, improve operational efficiency, promote fiscal responsibility, and assist with policy implementation. The study recommended that Governments should ensure that internal audit units operate independently from management, with unrestricted access to records and personnel. Legal and institutional frameworks should protect auditors from undue influence or retaliation. Also, internal auditors should work closely with external auditors, anti-corruption agencies, and legislative oversight committees. Sharing information and aligning audit plans can reduce duplication and improve oversight effectiveness....Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»The impact of development finance institutions (DFIS) in economic development of Nigeria»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )