Factors Contributing to the Effectiveness of Internal Audit in Selected Federal Polytechnics in South-West, Nigeria
The study investigated factors that influence the effectiveness of internal audit in selected Federal Polytechnics in south-west states in Nigeria. This study focuses on 6 Federal Polytechnics in south west states in Nigeria that were purposively chosen to represent all other Federal Polytechnics in Nigeria. The management teams and internal auditors of the selected Federal Polytechnics provide the researchers with the necessary data via questionnaires, and the findings of this study show a direct relationship between management perception, management support and independence of internal auditors, data were collected using self-structured questionnaires and responses were analysed using frequency count and percentage analysis and all substantially and favourably contributed to the efficacy of internal audits in the Federal Polytechnics in Nigeria. The contributions of these factors were collectively substantial in identifying any noncompliance actions in their workplace and adding values for the IAE in the Nigerian Federal Polytechnics. Keywords: Internal Audit, internal audit effectiveness, independence, management perception, management support JEL Classification: M42