The Extent of Internal Audit Functions Outsourcing by Nigerian Deposit Money Banks

Assessing the Reliability of the Internal Audit Functions: The Issues

“…Traditionally, reliability is one of the anticipatable qualities of an audit assignment, be it external or internal audit. Prior literature (see Suleiman and Dandago, 2014) has shown that reliability of accounting information, in the context of contemporary financial audit, depends on the adequacy of a number of reliability factors, for example: have the financial statements been prepared based on Generally Accepted Accounting Principles (GAAP); having the financial statements approved by the directors; as well as been audited by independent auditor.…”

“…Consequently, the role of the internal auditors has been a subject of discussion among professional accountants and academics, particularly in the light of the revision of its definition by the Institute of Internal Auditors (IIA, 2001), which widened the scope of internal audit to evolve from its traditional compliance auditing to a stage where it is regarded as a value adding service to organizations (Arena & Azzone, 2009;Suleiman & Dandago, 2014). Alrjoub and Ahmad (2017) noted that internal audit existed in a rudimentary form prior to 1980s, and was largely confined to checking compliances with organizational policies and procedures and verifying the existence of assets (Vani, 2010).…”

The profile of the internal auditor in the Romanian banking sector

“…An integrated audit approach of rulebased and case based reasoning is applied by Lee (2008) to data of internal audits of a bank. Suleiman and Dandago (2014) establish the extent to which internal audit functions (IAFs) are outsourced by the consolidated conventional banks in Nigeria, addressed in the country as deposit money banks. At national level, the literature on internal audit in the banking industry is also scarce.…”

“…It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes." This definition widens the scope of internal audit to evolve from its traditional compliance auditing to a stage where it is regarded as a value adding service to organizations (Suleiman and Dandago, 2014).…”

Developing an Index Score for the Internal Auditor Profile in Romania Based on Real Data Analysis

“…This definition widens the scope of internal audit. Nowadays, the profession evolved from its traditional role of compliance checking to a stage where organisations consider it a value adding service to them (Suleimana and Dandago, 2014). In defining internal audit, the IIA Corporate Governance Model resorts to the analogy of a four-legged stool, where internal audit is one of the "legs" of the stool, together with the board, the external audit and the management.…”