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

Contact

Past. Prof. Abomaye-Nimenibo

Contact

Williams Aminadokiari Samuel

Contact

Godwin Mbang Timothy

Contact

Willie Ndarake Nkanor

Contact

Obong University

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

Article Fingerprint

ReserarchID

TDN73

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

AI TAKEAWAY

Connecting with the Eternal Ground

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.

References

28 Cites in Article

Reference Format

Don Anderson,Jere Francis,Donald Stokes (1993). Auditing, directorships and the demand for monitoring.
(2007). Malaysia charges 3 in the Transmile accounting fraud case.
P Bridgman (2007). Further reading: Her Majesty's inspectorate: Not good enough.
G Bou-Raad (2000). Internal auditors and a value‐added approach: the new business regime.
Paul Brown (1983). Independent Auditor Judgment in the Evaluation of Internal Audit Functions.
K Chaudhary (1983). Chartered Management Accountant Journal.
(1992). Service Organization Control Reports and COSO Internal Controls.
L Dale,Flesher (1993). A Management Audit of Small Business Long-Term Financial Affairs.
L Dale,Flesher (1989). An Operational Audit of Working Capital Management.
C Deegan (2009). Entrepreneurship and Growth of enterprise in Industrial Setting.
Mort Dittenhofer (1997). Behavioural aspects of internal auditing “revisited”.
Dale Flesher,Jeffrey Zanzig (2000). Management accountants express a desire for change in the functioning of internal auditing.
Hasnah Haron,Andrew Chambers,Rozaldy Ramsi,Ishak Ismail (2004). The reliance of external auditors on internal auditors.
A Hodgson,S Holmes (2003). Textbook of Organic Chemistry. 3rd ed. By George Holmes Richter. John Wiley & Sons, Inc., New York, 1952. vii + 762 pp. 15.5 × 23.5 cm. Price $6.75.
Michael Jensen,William Meckling (1976). Theory of the firm: Managerial behavior, agency costs and ownership structure.
D Lane (1983). The Operational Audit: A Business Appraisal Approach to Improved Operations and Profitability.
A Maslow (1943). A theory of human motivation.
D Mihret,A Yismaw (2007). Management audit effectiveness: an Ethiopian public sector case study.
Innocent Ndungutse (2014). Internal Audit Operational Efficiency and Performance of Public Institutions in Rwanda: The Case of Ngoma District.
M Oladimeji (2016). The Impact of Internal Control System on Revenue Generation in Public Establishment.
O Olatunji (2002). Impact of Internal Control System in Banking Sector in Nigeria.
S Shah (2007). Safeguarding the integrity of financial statements.
N Subramaniam (2006). Methodological Issues in Accounting Research: Theories and Methods.
M Sushma,D Gupreet (2000). Defining Internal Control Objectives for Information Systems Security.
D Sutton (1977). Management Audit and Appraisal.
Dennis Taylor,Maliah Sulaiman,Michael Sheahan (2001). Auditing of environmental management systems: alegitimacy theory perspective.
(2005). Agency theory and the role of audit: ICAEW.
J Godfrey (2010). IIA RELATED GUIDANCE.

Download References

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).

More Citation Formats

Select Citation Style:

Download Citation

GJMBR Volume 21 Issue D1

Explore Journals Explore Volume Read This Issue

Journal Specifications

Crossref Journal DOI 10.17406/GJMBR

Print ISSN 0975-5853

e-ISSN 2249-4588

Keywords

Not Found

Classification

GJMBR-D Classification JEL Code: M42

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

Version of record

v1.2

Issue date

July 9, 2021

Language

Experiance in AR

Explore published articles in an immersive Augmented Reality environment. Our platform converts research papers into interactive 3D books, allowing readers to view and interact with content using AR and VR compatible devices.

View in VR

Read in 3D

Your published article is automatically converted into a realistic 3D book. Flip through pages and read research papers in a more engaging and interactive format.

View in 3D

Article Matrices

Total Views: 2178

Total Downloads: 972

2026 Trends

Our website is actively being updated, and changes may occur frequently. Please clear your browser cache if needed. For feedback or error reporting, please email [email protected]