Assessment of Internal Audit Tools: A Study of Some Government Health Institutions in Ghana

Abstract

The growing number of allegations on financial statement fraud, lack of accountability, misappropriation and mismanagement of public resources in public institution has created an increase attention for the need of internal auditors. Descriptive research design was used for this study precisely a case study. Simple random sampling technique was used to select two government hospitals located in Manhyia and Mankranso both in Ashanti Region. Out of three hundred and forty (340) population from the combined hospitals, a purposive sampling technique was used in selecting a sample size of twenty-six (26) which was made up of twelve (12) accountants, ten (10) managements and four (4) internal auditors in Manhyia and Mankranso was utilized. A self – structured questionnaire, a four-point modified Likert a scale was the instrument used for data collection. All the 26 respondents correctly completed and returned their questionnaire formed the sample size for the study, while mean, standard deviation and percentage was employed in data analysis. The study found, among other things, that in spite of availability of internal auditors, management override internal controls very often, findings indicated that the internal audit were understaff and are inadequately resourced. The study also pinpointed that internal auditors are recognized in public institution and adds value to the institution overall performance.