INTERNAL AUDIT FUNCTION AND FINANCIAL PERFORMANCE OF TELECOMMUNICATION FIRMS IN NIGERIA
IBAMA, Kellyiyi Chika Kelly., Ph.D
Department of Accountancy, Faculty of Management Sciences,
Rivers State University, Port Harcourt, Nigeria
and
David, Kennedy Dokubo
Department of Accountancy, Faculty of Management Sciences,
Rivers State University, Port Harcourt, Nigeria
ABSTRACT
This study sought to analyze internal audit function and financial performance of telecommunication firms in Nigeria. The methodology adopted was survey method to collect primary data using a structured questionnaire. A total of 213 copies of questionnaire were distributed with 152 answered correctly and fully retrieved. Data was analyzed using percentage, tables and spearman rank order correlation techniques and with statistical package for social science (SPSS) was used to test the hypotheses. The findings revealed that, internal audit function has positive relationship between financial performance of telecommunication firms in Nigeria. It was therefore concluded that, telecommunication firms should expand their network coverage and improve the quality of service they offer because this is a major factor that affect their financial performance.
Keywords: Internal Audit Function, Financial Performance