THE EFFECTIVENESS OF INTERNAL AUDIT IN IMPROVING ORGANIZATIONAL PERFORMANCE: CASE STUDY OF WOLLO UNIVERSITY, ETHIOPIA, 2015

Dr.P.Fareed Mastan; Habatamu Gameda; P.Rajeswari; Seid Muhammed

Volume : V, Issue : VII, July - 2015

THE EFFECTIVENESS OF INTERNAL AUDIT IN IMPROVING ORGANIZATIONAL PERFORMANCE: CASE STUDY OF WOLLO UNIVERSITY, ETHIOPIA, 2015

Dr. P. Fareed Mastan, Habatamu Gameda, P. Rajeswari, Seid Muhammed

Abstract :

Internal audit has been identified as the most effective mechanism to improve the performance of the organizations globally. Therefore, the purpose of the study was to assess the effectiveness of the internal auditing in improving organizational performance of Wollo University. Descriptive research design has been used with primary and secondary data by using self–administered questionnaire and in–depth interview. The study reveals that there was no audit committee in the University and internal auditors did not have requisite experience. The unit does not have adequate resources allocation, and do not have audit charter. Internal audit in Wollo University has ineffective and low contribution to the improvement. This study recommended improving organizational performance. Internal audit should have sufficient and appropriate resources, competent personnel and should have audit committee that ensures the independence of internal audit, and finally, the University should establish internal audit charter for internal auditors.