Impact of Internal Audit Control System Onoperational Efficiency (A Study of a Transport Company)

Impact of Internal Audit Control System Onoperational Efficiency (A Study of a Transport Company)

Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel Ph.D., M.Sc., B.Sc. Economics, MBA Management and UD, Personnel Management and Industrial Relations, Director of Postgraduate Studies, School of Postgraduate Studies

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Godwin Mbang Timothy

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Willie Ndarake Nkanor

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Obong University

Impact of Internal Audit Control System Onoperational Efficiency (A Study of a Transport Company)

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Abstract

This study examines the impact of the Internal Audit Control System on Operational Efficiency, a study of Akwa Ibom State Transport Company. The study was a survey design, and the population comprised all the 34 administrative staff of the AKTC finance, administrative and internal audit departments. A sample size of 31 staff was selected for the three chosen departments of the company for the study, and the sampling technique used was a single stage. The data for the study was purely primary data, where information was collected from the staff of the company via a questionnaire. The data obtained were analysed using simple regression analysis. The study’s findings revealed a significant relationship between internal audit control and increased revenue generation and net profit. The findings also revealed a statistically significant impact of the internal audit control system on operational efficiency. The relationship between the internal audit control system and further expansion was also significant. However, the work recommends that AKTC should set internal audit units for each branch across the country with internal audit personnel’s manning the unit and should rotate branches from time to time to ensure compliance.

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Funding

No external funding was declared for this work.

Conflict of Interest

The authors declare no conflict of interest.

Ethical Approval

No ethics committee approval was required for this article type.

Data Availability

Not applicable for this article.

How to Cite This Article

Prof. Abomaye-Nimenibo Williams Aminadokiari Samuel. 2021. \u201cImpact of Internal Audit Control System Onoperational Efficiency (A Study of a Transport Company)\u201d. Global Journal of Management and Business Research - D: Accounting & Auditing GJMBR-D Volume 21 (GJMBR Volume 21 Issue D1).

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GJMBR Volume 21 Issue D1

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Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

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GJMBR-D Classification JEL Code: M42

Submission ReceivedApril 15, 2021
Peer Review Double Blind
Handling Editor
Accepted May 2, 2021
Published May 15, 2021

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July 9, 2021

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