Internal audit efficiency and profitability of quoted manufacturing firms in Nigeria Department:Accountancy By: AdeleyeJoshua Project ID: 9546 Rating: (5.0) votes: 1 Price:₦5000 Get the Complete MaterialAbstractThe complex technicalities associated with auditing activities in recent times have generated a good reason for the accounting profession to worry. This study examined the relationship between internal audit efficiency and the profitability of quoted manufacturing firms in Nigeria. The objective of the study is to examine whether internal audit can enhance the profitability of Dangote Cement Company, Obajana, Kogi State and to evaluate whether a weak internal control system and lack of independence in internal auditing can affect the internal audit efficiency in Dangote Cement Company, Obajana, Kogi State. The methodology adopted in this study is a descriptive research design. The method of data collection is both primary and secondary data. The major instrument used to gather data from primary sources is the questionnaire. From a population of seventy-nine (79), a sample size of sixty-six (66) was selected using the Taro Yamane formula. Findings revealed that internal audit efficiency plays a significant role in driving profitability among quoted manufacturing firms in Nigeria. Effective internal audit functions ensure stronger financial controls, compliance with regulations, prevention of fraud, and improved operational efficiency, all of which directly impact profitability. The study concludes that internal audit efficiency should be viewed as a critical driver of corporate performance and competitiveness within the Nigerian manufacturing industry. In view of these findings, it was recommended that quoted manufacturing firms should ensure that internal auditors maintain independence and objectivity by reporting directly to the Audit Committee of the Board rather than management alone. Firms should adopt modern audit tools, data analytics, and digital systems to improve audit coverage, efficiency, and timeliness in detecting irregularities. ...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 )