Impact of internal audit activities on banking performance in Nigeria - case of First Bank Nigeria plc, Lokoja branch, Kogi state Department:Accountancy By: AdeleyeJoshua Project ID: 9353 Rating: (5.0) votes: 1 Price:₦5000 Get the Complete MaterialAbstractThe study examines the impact of internal audit activities on banking performance in Nigeria using First Bank Nigeria Plc, Lokoja branch, Kogi State as the study area. The objectives of this study are to examine whether internal audit activities have a positive impact on the performance of First Bank Nigeria Plc, Lokoja; to examine whether internal audit activities have enhanced the profitability of First Bank Nigeria Plc, Lokoja and to determine the significant relationship between internal audit activities and the financial performance of First Bank Nigeria Plc, Lokoja. The researcher adopted a survey design method of data collection, which involves personal interviews. Primary and secondary data were used to collect information. The population of the study is sixty (60) staff of First Bank Plc, Lokoja, and the sample size is fifty -two(52). The findings reveal that internal audit activities have a positive impact on the performance of First Bank Nigeria Plc, Lokoja. Internal audit can enhance operational efficiency and cost reduction in the bank. It can help banks to identify, assess, and mitigate risk effectively. The researcher recommends that the internal auditor should have maximum independence from the industry they work in. The internal audit activities must be positioned in such a way that it may obtain cooperation from the industry that is being audited and have free, unrestricted access to all functions, records, property and personnel, including those charged with governance. Management must ensure that the right controls are in place to monitor and measure business practices and behaviour, that the right management team is put together, and that the culture includes an enterprise-wide commitment to understanding and embracing corporate values. ...Preview Download Preview +Other Accountancy project topics and materials you might be interested in»The Impact of Accounting Ratio in Decision Making ( A Case Study of Nigeria Breweries Plc Enugu) »The impact of budget and budgetary control in tertiary institutions ( A Case study of imo state university )»Internal control as a tool for improving profitability»The role of financial institutions in the development of Nigeria economy»Impact of computerization of accounting system of commercial banks ( A case study of union bank plc )»The Impact of product development on banks performance ( A Case study of first bank plc )»Effects of standard costing on the profitability of manufacturing companies (a case study of nigerian breweries plc, Ama, Udi local government of Enugu state) »The role of accounting system in measuring organizational performance of transport company ( A Case study of ABC Transport )»Role of good accounting system in the management of private enterprise in Nigeria ( A Case Study of Nwaogo pam paper mills limited )»The impact of development finance institutions (DFIS) in economic development of Nigeria»Auditing in Nigeria companies, problems and prospects»Effect of misrepresentation of information in a financial statement»Effective internal control as an aid to management efficiency ( Case Study of Nigeria Bottling Company Owerri )»The effects of computerized accounting system on the performance of banking industry in Nigeria»An appraisal of fraud prevention measures in Nigerian banking sector ( Case study of access bank plc owerri )