Description
Abstract
This research is on Internal audit as a tool in achieving the organization objectives, a case study of First Bank Nigeria Plc, Owerri branch. The notion of the auditor being bound is gradually changing for the better as internal auditing has undergone tremendous change in the recent past. Major notes of internal auditing have not been clear to the majority of people in the society in view of numerous corrupt practices of frauds and embezzlement often uncovered by probe tool has been questioned. The actual functions of the auditor are often surrounded in secrecy or held in some kind of awe. It is the realization of this that I have set out to look critically into the internal audit department of First Bank (Owerri Branch) with the view of finding effective internal auditing practices that ensure effective control. The mode of appointment, independence and duties of the internal auditor was looked into and determining whether the internal audit department is being operated as a management or efficiency audit. Nevertheless, a high degree of internal control exists in the company. In consideration of improvement in some areas, recommendations are proposed. Advice; employees should be oriented on the need for an internal control system in an organization.
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