Internal Auditors’ Position, Recognition, and Independence in Ghana: Evidence from State-Owned Enterprises

Sedrick Samuel Amar Ofosuhene (), Diana Delali Amaglo (), Baah Noah Kwaku (), Raymond Deku Saah () and Susuana Araphua van-Brocke ()

Journal of Accounting, Business and Finance Research, 2021, vol. 11, issue 2, 55-66

Abstract: The paper focuses on exploring the level of internal auditors’ (IAs) placement/position and recognition/respect and the implications of their independence. Data from the state-owned enterprises (SOEs) in Ghana were used. This paper was conceived from the call to strengthen IA independence to facilitate their effectiveness. Three objectives were developed from the problem statement. A quantitative analytical procedure was used coupled with a survey design, and a mean scale and regression analysis was adopted. It was revealed that the threat to IAs’ placement is high resulting in low perceived placement. It was also found that the level of recognition of IAs is threatened as evidenced by a low level of recognition. The inferential statistics indicate that IAs’ placement and recognition significantly determine the level of IAs’ independence. It is recommended that IA units should be restructured both by legislation and in practice to cure the lapses in IAs’ placement and recognition in order to improve IAs’ independence in state-owned enterprises.

Keywords: Internal auditors; Placement/position; Recognition/respect; Internal auditors’ independence. (search for similar items in EconPapers)
Date: 2021
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Persistent link: https://EconPapers.repec.org/RePEc:spi:joabfr:v:11:y:2021:i:2:p:55-66:id:416

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