Internal Auditors’ Position, Recognition and Independence in Ghana: Evidence from State Owned Enterprises
The paper focused on exploring the level of internal auditors’ (IAs) placement/position and recognition/respect and the implications of their independence. The paper employs data from the various state-owned enterprises in Ghana. This paper was conceived from the call to strengthen IAs’ independence to facilitate their effectiveness. Three objectives were developed from the problem statement. Quantitative analytical procedure was used coupled with survey design. Mean scale and regression analysis was adopted in this paper. It was revealed that the threat to IAs’ placement is high resulting in low perceived placement. It also found that the level of recognition of IAs is threatened as evidence by low level of recognition. The inferential statistics indicated that IAs’ placement and recognition significantly determine the level of IAs’ independence. It is recommended that IA units should be restructured both by legislation and in practice to cure the lapses in IAs’ placement and recognition in order to improve IAss’ independence in state-owned enterprises.