THE STRATEGIES EMPLOYED BY INTERNAL AUDIT UNIT, IN SAFEGUARDING PUBLIC RESOURCES OF MUNICIPAL AND DISTRICT ASSEMBLIES IN THE UPPER WEST REGION OF GHANA

Abstract

The internal auditing profession has become one of the mechanisms by which the management provides stakeholders with reasonable assurance that their respective interests are protected in the organization. This study therefore , sought to examine the strategies used by the Internal Audit Unit in safeguarding public resources of Municipal/District Assemblies in the Upper West Region. A survey was conducted on 66 respondents consisting of management of public institutions and 3 internal auditors of selected Municipal/District Assemblies . Primary data were therefore, gathered from the respondents and analysed using descriptive statistics. The results indicate that Internal Auditors control activities, detect errors, prevent fraud and offer advisory services to management of public institutions. Internal Auditors also offer consulting services to management of public institutions. Public officers do embezzle public resources despite the internal control activities . The Internal Audit Unit is confronted with some challenges. Among some of the challenges include financial, human resource, logistics, socio-cultural, political interference, and corruption on the part of Internal Auditors. The results are consistent with theoretical literature but contradict other empirical findings and this suggests a discovery of new knowledge within the realms of internal auditing. The challenges that are facing the Internal Audit Unit imply that Internal Auditors are still not operating efficiently. The study therefore, recommends that the focus of internal control practices should be extended to acquisition and use of other non-financial resources (e.g human resources). Management of public institutions is advised that efforts to ensure public resource utilisation should include the use of services of Internal Auditors . Besides, the government should give the Internal Audit Unit a statutory power that will be free from political interference. This will raise the capacity of the Internal Audit Unit in safeguarding public resources.