The Role of Internal Audit on Corporate Governance: A Case of Simiyu Regional Council, Tanzania

Mbiha, Neema Emmanuel (2019) The Role of Internal Audit on Corporate Governance: A Case of Simiyu Regional Council, Tanzania. Masters thesis, The Open University of Tanzania.

Download (653kB)


This study was primarily set to assess the role of internal audit functions on corporate governance. The study consisted of three objectives; to identify strategies for enhancing the effectiveness of internal audit functions; to assess challenges facing implementation of internal audit function; and to examine the effect of internal audit on corporate governance. The study was conducted in Simiyu regional council. Cross-sectional design was adopted as study design. Purposive and randomly sampling techniques were used to select 85 respondents. Questionnaire was employed as data collection instrument. Analysis of the findings revealed that, strategies which were identified to enhance the effectiveness of internal audit functions include; cybersecurity assessments, effective use of co-sourcing, optimize the value of enterprise risk management (ERM), enhanced business continuity plan (BCP) assessments, timely assessment of the impact of regulatory changes, and third-party compliance reviews. The study also revealed challenges constrained internal audit were lack of business expertise, inadequate management support, unreliable monitoring processes for auditing, poor development of a workforce strategy, poor delivery of added value, lack of independence, and insufficient leveraging technology. In addition, the study found that, internal audit has significant effect on promotion of corporate governance. Whereas, compliance evaluation, risk assessment, and efficient co-sourcing system explained 99.1% of corporate governance.The study recommends that, every person involved in the internal audit process be trained to understand the importance of an internal audit as regards enhancing the organisation's efficiency and to therefore build an understanding that will improve the business and its stakeholders.

Item Type: Thesis (Masters)
Subjects: 600 Technology > 658 Gerneral management
Divisions: Faculty of Business Management > Department of Accounting and Finance
Depositing User: Mr. Administrator OUT
Date Deposited: 26 Nov 2020 08:22
Last Modified: 26 Nov 2020 08:22

Actions (login required)

View Item View Item