Research Proposal for Internal Auditor
Social Research
Governance in the public sector institutions in Jamaica: Internal Auditors
Introduction The responsibility of the internal audit is to serve the Ministry of Justice in a manner that is consistent with the Financial Administration and Audit Act, Standards for the Professional Practise of Internal Auditing and with professional standards of conduct. This activity has the potential to provide hitherto unparallel services to management in the conduct of their duties.
Background of Study The government of Jamaica established the Internal Auditing Agency as a means of strengthening accountability and reinforcing trust and confidence in financial reporting for public sector institutions. These audits help enhance economic prosperity, expanding the variety, number and value of transactions by means of written reports or consultations to prepare persons who are entering into transactions. (Institute of Chartered Accountants 2005) The value of an Internal Auditor lies in how well he/she is able to contribute to the overall achievement of the organisations objectives. The auditor should always strive to make himself relevantto the ogranisations using the proper methods of providing information to that will allow management make decisions that will impact the organization positively on their ability to achieve organisational goals. However according to the reports made by the Auditor General of Jamaica (2005) audits have been restrictive in terms of scope with the lack of technology in aiding auditor and fraud. This needs to be addressed if the required return on investment in the Internal Audit is to be attained.
Problem Statement The Internal Audit Agency (2006) believes that the importance of internal audit is analytically obscure. This belief plagues the importance of an internal audit as a key function that can strengthen the oversight responsibility of the governing body and this attitude reflects management’s view on auditors. To
Governance in the public sector institutions in Jamaica: Internal Auditors
Introduction The responsibility of the internal audit is to serve the Ministry of Justice in a manner that is consistent with the Financial Administration and Audit Act, Standards for the Professional Practise of Internal Auditing and with professional standards of conduct. This activity has the potential to provide hitherto unparallel services to management in the conduct of their duties.
Background of Study The government of Jamaica established the Internal Auditing Agency as a means of strengthening accountability and reinforcing trust and confidence in financial reporting for public sector institutions. These audits help enhance economic prosperity, expanding the variety, number and value of transactions by means of written reports or consultations to prepare persons who are entering into transactions. (Institute of Chartered Accountants 2005) The value of an Internal Auditor lies in how well he/she is able to contribute to the overall achievement of the organisations objectives. The auditor should always strive to make himself relevantto the ogranisations using the proper methods of providing information to that will allow management make decisions that will impact the organization positively on their ability to achieve organisational goals. However according to the reports made by the Auditor General of Jamaica (2005) audits have been restrictive in terms of scope with the lack of technology in aiding auditor and fraud. This needs to be addressed if the required return on investment in the Internal Audit is to be attained.
Problem Statement The Internal Audit Agency (2006) believes that the importance of internal audit is analytically obscure. This belief plagues the importance of an internal audit as a key function that can strengthen the oversight responsibility of the governing body and this attitude reflects management’s view on auditors. To
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