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AN EVALUATION OF AUDITING AND INTERNAL CONTROL MECHANISMS: AN INSTRUMENT OF ACCOUNTABILITY IN EKITI STATE, NIGERIA
ABSTRACT : This study assessed auditing and internal control mechanisms: An instrument of accountability in Ekiti State, Nigeria. The study also investigated the impact of internal auditing on accountability of public sector in Ekiti State, internal control influenced accountability of public sector in Ekiti State and examined the effect of auditing and internal control on accountability and transparency of public sector in Ekiti State, Nigeria. The study adopted descriptive research design of the survey method in order to obtain opinion of the entire population and probability sampling technique was used to select one hundred and twenty (120) respondents among member of staffs of public sectors in Ekiti State. The instrument used for the purpose of the study was a questionnaire designed by the researcher and the data collected were analyzed through the use of percentage frequency counts and regression method. Based on the result of the findings, (t = 0.000; p < 0.05); therefore, internal auditing have significant effect on accountability of public sector, (t = 0.000; p < 0.05); internal control have significant effect on accountability of public sector and lastly the study found that (t = 0.000; p < 0.05) auditing and internal control have significant and positive effect on accountability and transparency of public sector in Ekiti Stat, Nigeria. The study concluded that auditing and internal control mechanisms are accountability instruments of public sector in Ekiti State, Nigeria. Based on the study, it was suggested that Government authority should increase their effort to ensure proper and highly effective internal auditing and control system are in place within the parastatals of government to enhance financial accountability.
KEYWORD: Auditing, Internal control, Accountability, Nigeria