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
Date Written: September 31, 2016
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: Suggested Citation