AN ASSESSMENT OF INTERNAL AUDIT PRACTICE: THE CASE OF ETHIOPIAN CONSTRUCTION WORK CORPORATION

Abstract

The purpose of this study is to examine the practice of internal auditing and the role played by auditors and other concerned staffs in Ethiopian Construction Company under the assumptions that the effective practice of internal audit can enhance the performance of any organization. The source of the required data to the study employed descriptive research design research methods. The appropriate data collected through questionnaires and interview. The was collected and analyzed by using SPSS version 24. The finding described statistically and also presented using tables, mean values and standard deviation to analyze the data and the study rewards. There is independence of internal audit departments in its activities from the influence of Ethiopia construction work corporation management and this study also found out that the Internal Audits or its function added value to the overall objective of the corporation. The study also investigated that board of audit support the independence of internal auditor for the corporation. Finally it was found out that the management of the corporation takes action on the audit findings of the internal audit. Thus, the researcher concludes that the overall practices of the internal audit in Ethiopian Construction Works Corporation perform according to the audit rules and international standard. Based on the findings to farther enhance the activities of the internal audit, it is recommended that the internal audit functions should more strengthen in compliance with standards’ and audit quality review procedure in the corporate internal audit of the corporation.