Challenges and Recognition Associated with Internal Audit function to promote good Governance System in the selected Public Universities in Ashanti Region, Ghana

Frempong Asare-Baffour; Dennis  Manu; Helena   Opoku; Michael  Oppong

Authors

Frempong Asare-Baffour Internal Audit, Kumasi Technical University, Kumasi Ghana
Dennis Manu Internal Audit, Kumasi Technical University, Kumasi Ghana
Helena Opoku Internal Audit, Kumasi Technical University, Kumasi Ghana
Michael Oppong University Library, Kumasi Technical University, Kumasi Ghana

Keywords:

internal audit function, good governance, public universities, governance system, risk management, internal controls, organizational governance

Abstract

The study examined the Challenges and levels of recognition associated with the internal audits in selected public universities in Ashanti Region, Ghana. 40 respondents representing 53% were sampled and respectively drawn from all the three selected public institutions (Kwame Nkrumah University of Science and Technology, Akenten Appiah-Menka University of Skills Training and Entrepreneurial Development (AAMUSTED), and Kumasi Technical University. A descriptive survey method was employed to acquire data from the selected public universities with the use of the questionnaire. Analysis of data gathered was carried out using bar charts, pie charts, Line graphs, columns, and percentages. Findings discovered that the internal audit function among the selected public universities was partially competent to determine the efficiency of risk management, control, and good governance. It was further disclosed that the independence of internal auditors’ function was self-determining to exercise good governance. The study recommends that selected public universities should invest in staff training and continuous development especially the internal audit function unit.