ABSTRACT

This bachelor’s thesis deals with analysing the importance of internal auditors for the company. It aims to solve the issue about the way the new management of John Holt Nigeria Plc perceives the internal audit department. The management of the company believe that the organization can function effectively without the internal audit department. Therefore, as a result of the ongoing downsizing process in the company, the management is considering scrapping the audit department. The main objective of this research is to ascertain the impact and values of internal auditors as well as their roles and responsibilities to John Holt Nigeria Plc.

This thesis consists of a theory and empirical section. The theory section will discuss about auditing, accounting, internal auditing and characteristics of an internal auditor which will be established by studying relevant literature, books, articles and internet sources. The empirical part will focus on the result of interviews conducted. The study will be based on qualitative method and will adopt interview as the main research tool which will be carried out with some senior managers who has experience about the subject matter.

The findings will enable the management to decide if the internal audit department will be useful and beneficial to the organization or not. The conclusion will be based on the result of the research while recommendation will be drawn from conclusion which will assist the management to decide if the functions, roles and responsibilities of the internal audit department are vital to the overall effective performance of the organization or maybe the department should be scrapped.

It is imperative for John Holt Plc to know the impacts and values of the internal audit department. The author therefore recommend that the management of John Holt Nigeria Plc should consider carefully several risks that might occur if the internal audit department is eventually scrapped without any alternative in place.

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