Assessment of the knowledge of external auditor’s responsibilities: evidence from selected municipal and district assemblies in the ashanti region
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Date
2023
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KNUST
Abstract
The focus of this study is to examine the level of Knowledge of officers about the responsibility of the external auditors in the MMDAs in the Ashanti Region of Ghana. This research was conducted using a descriptive research design. The study also employed a quantitative approach. The study employed simple random sampling for selecting 62 auditors in 43 MMDAs in the Ashanti Region of Ghana. A structured questionnaire guide was used as the primary data-gathering tool. SPSS was used to analyse the data. The result reveals that the respondents exhibit high ratings in areas such as cost reduction, enhancing organisational performance, engaging stakeholders, ensuring quality assurance, identifying management shortcomings, promoting staff effectiveness, maintaining a favourable public image, and proposing improved management strategies. The statistical analysis reveals that, on average, external auditors exhibit a moderate to high level of expertise in terms of their understanding of the duties associated with validating data reliability, validating data credibility, comparing financial and non-financial information, comparing budgets, and relying on auditing guides and international accounting standards. Based on the survey results, it can be observed that a significant proportion of the respondents possess dedicated personnel who are responsible for determining and calculating navigation age indicators. Furthermore, there are directors overseeing the process of data collection and analysis. It is also noteworthy that there are well-defined roles and responsibilities within the organisation, facilitating efficient operations. Additionally, the respondents reported having convenient access to documents from the Accountancy Department. Furthermore, the respondents provided information regarding the existence of internal documents utilised for data collection purposes, as well as the criteria employed for selecting navigation indicators.
Description
A thesis submitted to the Department of Accounting and Finance, KNUST School of Business, Kumasi in partial fulfilment of the requirements for the award degree of master of science in accounting and finance.