IMPACT OF INTERNAL AUDIT FUNCTION AND EFFICIENCY ON ORGNISATIONAL PERFORMANCE

Abstract

This study examined the impact of internal audit function and efficiency on organizational performance. The study employed the use of primary data analyzed with the use of Simple Regression. The study showed that internal audit function and internal audit efficiency have positive and significant relationship on organizational performance with t-value of 2.516 and 2.902. The study concluded that efficacy of the control for detection and checkmating of fraudulent activities in an organization be it public or private which is the function of its internal audit unit contributes to both the financial and non-financial performance of such entity. The study recommended that management of organization should ensure the recruitment of professionally and academically qualified personnel to be in charge of their internal audit unit, so as to minimize the occurrence of fraudulent activities and regular review of internal control system should be inculcated, so as to checkmate the lapses of the control system.