DETERMINANTS OF INTERNAL AUDIT QUALITY OF SELECTED MDAs IN NIGERIA

Abstract

The main purpose of this study is to investigate on the determinants of internal audit quality of selected Ministries, Department and Agencies (MDAs) In Nigeria. This investigation is focused on 15 purposely selected MDAs that are expected to represent all other MDAs. The management teams and the internal auditors of the selected MDAs are the source for the required data to the researcher through the questionnaires administered. The study further evaluates and examines the determinants of Internal Audit Quality of selected Ministries, Departments and Agencies (MDAs) in Nigeria. The determinants studied are management support, competent of internal auditors, availability of information technology and organizational independence. The study adopts descriptive survey design while ordinal regression was used for the analysis. From the analysis, it was found that management support, competent of internal auditors, organizational independence and information technology has a significant effect on audit quality. The study recommends that There should be separation of powers between the appointing authority of internal auditors and those in charge of determining their incentives and remuneration so as to ensure total independence and objectivity of internal auditors.