Effect of Risk-Based Audit on Quality Internal Control of Selected Deposit Money Banks in Nigeria

Abiahu, Mary-Fidelis Chidoziem, Amahalu, Nestor Ndubuisi, Chinyere, Obi Juliet and Christian, Okika Elochukwu, Effect of Risk-Based Audit on Quality Internal Control of Selected Deposit Money Banks in Nigeria (September 31, 2016)

11 Pages Posted: 10 Oct 2017

See all articles by Nestor Amahalu

Nestor Amahalu

Nnamdi Azikiwe University - Department of Accountancy

Mary-Fidelis Chidoziem Abiahu

Nnamdi Azikiwe University - Department of Accountancy

Obi Chinyere

University of Nigeria Enugu Campus

Okika Christian

Nnamdi Azikiwe University

Date Written: September 31, 2016

Abstract

The objective of this study is to ascertain the effect of risk-based audit on quality internal control of selected deposit money banks in Nigeria. Survey method was used for this studywhile random sampling technique was adopted. Paired T-test and Cronbach Alpha via Statistical Package for Social Science (SPSS) version 20 were used to analyse the data. Primary data were collected using the questionnaire as the primary research instrument. Findings showed that risk-based audit has a statistically significant effect on quality internal control of deposit money banks at 5%. In view of the above findings, this study recommended that risk-based internal audit should be enhanced through adoption of better risk assessment so as to effectively improve the quality of internal control in commercial banks in Nigeria.

Keywords: Risk-Based Audit, Internal Control, Audit Risk

JEL Classification: M41

Suggested Citation

Amahalu, Nestor and Abiahu, Mary-Fidelis Chidoziem and Obi, Juliet and Okika, Elochukwu, Effect of Risk-Based Audit on Quality Internal Control of Selected Deposit Money Banks in Nigeria (September 31, 2016). Abiahu, Mary-Fidelis Chidoziem, Amahalu, Nestor Ndubuisi, Chinyere, Obi Juliet and Christian, Okika Elochukwu, Effect of Risk-Based Audit on Quality Internal Control of Selected Deposit Money Banks in Nigeria (September 31, 2016). Available at SSRN: https://ssrn.com/abstract=3050253

Nestor Amahalu

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria
+2348063393668 (Phone)

Mary-Fidelis Chidoziem Abiahu (Contact Author)

Nnamdi Azikiwe University - Department of Accountancy ( email )

Awka, Anambra 23400
Nigeria

Juliet Obi

University of Nigeria Enugu Campus ( email )

Department of Accountancy
Box 15540, Enugu
Enugu, NC Enugu 234
Nigeria

Elochukwu Okika

Nnamdi Azikiwe University ( email )

Department of Accountancy
PMB 5025
Awka, DE Anambra State +234
Nigeria

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