Assessing the role of internal audit unit in the corporate governance – A case of Komfo Anokye Teaching Hospital

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JUNE 2015
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Some researchers have suggested that many of the public health institutions in Ghana only practice internal auditing systems on ad hoc basis resulting in operational deficiencies and financial mismanagement of these institutions. This research work therefore found it necessary to assess the role of internal audit unit in the corporate governance performance – a case of Komfo Anokye Teaching Hospital. The methodology used by the researcher is qualitative in nature in which descriptive research is used, a simple random sampling technique in gathering qualitative data from 62 respondents from 2 Board of Directors, 6 management members, 12 Internal Audit practitioners, and 10 members from each Directorate consisting of Pharmacy, Administration, Finance, Medical and Nursing. Both descriptive and inferential statistics were used in the analysis of the information or data. In conclusion the study found that internal audit scrutinize financial report of Komfo Anokye Teaching hospital and that internal auditors are part of internal control system. Further, audit committee assess the work of internal auditors in order to ensure that they comply with auditing principles and standards. The study also found that Internal Auditing practice helps to promote Risk Management activities, accountability, internal controls, Ethical Consideration and value for value in financial spending of KATH. It was found from the study that financial constraint, inadequate staff strength, inadequate qualified personnel and lack of coordination among other workers are major challenges in facing internal auditors in the performance of their duties in KATH. This study recommends that adequate resources and logistics, increase staff strength, employ qualified personnel and ensure collaboration between internal auditors and other spending officials of KATH in order to efficiently and effectively enhance auditing activities
A thesis submitted to School Business, Kwame Nkrumah University of Science and Technology in partial fulfillment of the requirements for the degree of Master of Business Administration (Accounting Option),