Internal audit and organizational performance in selected manufacturing companies in Mogadishu Somalia
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Date
2012-01
Authors
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Publisher
Kampala International University, College of Economics and Management
Abstract
This study was set out to establish the extent to which internal audit affects organizational performance in the selected manufacturing companies in Mogadishu
Somalia .The study was to establish how internal audit affect organizational in the selected manufacturing companies in Mogadishu Somalia, the study was conducted through descriptive survey and correlation research design, quantitative approach: with a questionnaire and includes target population was 160 and sample 113 respondents from selected manufacturing companies in Mogadishu Somalia. The study utilized descriptive statistics frequencies and percentages, tables were used in the presentation of data and also Pearson’s product moment correlation coefficient was applied to test correlation between internal audit and organizational performance.
The research found that the internal audit and organizational performance of selected manufacturing companies are significantly correlated r 0.950.
Proper internal auditing significantly leads to the organizational performance in manufacturing companies.
Organizational performance involves most of the following activities including management policies and management establishment minimum return required to meet the company’s return on assets, return on equity and also made comparison the current profit with profit made in the previous year to assess profitability trends.
The internal auditors of the manufacturing companies are not sufficiently skilled to undertake the work program, and it is recommended that training be organized to enable to perform their jobs well and to develop an awareness of effective internal auditing and recommended that the company makes appropriate policy and procedures for the collection of its loans in default.
Description
A research thesis presented to the School of Postgraduate Studies and Research Kampala International University Kampala, Uganda In Partial fulfillment of the Requirements for the Degree Master of Business Administration
Keywords
Internal audit, Organizational performance, Manufacturing companies, Mogadishu Somalia