Description
The impact of internal audit efficiency on the financial performance of companies (a case study of Julius Berger plc).
Abstract
Internal auditing is a vital aspect of all organizations for the efficient and effective management of resources, the addition of value and the improvement of operations for them to realize their financial goals. The internal audit department is a neutral source of information for the smooth management of resources thus, stakeholders have a level of confidence in the financial reports of the firm which reflect the efficiency of the department. The study employed a descriptive research design. The population was made up of all the Julius Berger PLC. Data used was both primary and secondary. Questionnaires were used to collect relevant information. The audited and published financial statements of firms listed at the NSE provided data on their financial performance. Quantitative and qualitative analyses were used to analyze the data obtained. The independent variables studied: Top management support, auditor’s independence, professional proficiency of auditors and auditor’s efficiency of work were found to have a significant relationship with financial performance.
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