Internal Auditors’ Position, Recognition and Independence in Ghana: Evidence from State Owned Enterprises

  • Sedrick Samuel Amar Ofosuhene College of Mechanical and Electrical Engineering, Nanjing University of Aeronuatics and Astronautics, Nanjing, China.
  • Diana Delali Amaglo College of Economics and Management, Nanjing University of Aeronuatics and Astronautics, Nanjing, China.
  • Baah Noah Kwaku College of Computer and Information Engineering, Hohai University, Nanjing, China.
  • Saah, Raymond Deku Gulou School of Clinical Medicine, Nanjing Medical University, Nanjing, China.
  • Susuana Araphua van-Brocke College of Nursing, Volta River Authority, Ghana.

Abstract

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.

Keywords: Internal auditors, Internal auditors, Placement/position, Internal auditors Recognition/respect, Internal auditors independence.

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Ofosuhene, S. S. A., Amaglo, D. D., Kwaku, B. N., Deku, S. R., & van-Brocke, S. A. (2021, June 7). Internal Auditors’ Position, Recognition and Independence in Ghana: Evidence from State Owned Enterprises. Journal of Accounting, Business and Finance Research, 11(2), 55-66. https://doi.org/https://doi.org/10.20448/2002.112.55.66
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