Role of Internal Auditing in Enhancing Good Corporate Governance Practice (Essay Sample)

PHILIP K. YEGO SPHIYE1911 Internal Audit Journal Review Assignment
Omolaye KE, Jacob RB (2017) the Role of Internal Auditing in Enhancing Good Corporate Governance Practice in an Organization. Int J Account Res 6:174. doi:10.4172/2472-114X.1000174
I have read the whole article, of a total of eight pages, from page 1 to page 8.
The aim of this research was to examine the role of internal auditing in enhancing good corporate governance practice in the banking sector in Nigeria with focus on performance and to possibly provide guidance on strengthening the internal audit function in corporate governance. The authors identified that corporate governance has been recognized as an indispensable factor in ensuring sound financial reporting and deterring misappropriations of capital in an organization, and that the growth of corporate governance has been of immense help to the internal audit function.
The author introduced the topic well, giving a good background and the need for high corporate governance standards, to ensure the efficient and effective use of capital, good returns on investments and safeguarding of resources from misappropriation. In his study, the author highlighted that: Corporate governance of banks has gone through a significant revolution in Nigeria since the introduction of the CBN corporate governance code for banks in 2006. There is also a growing recognition of the role internal auditing in contributing to improved corporate governance and reporting, as banks perceive and respond to risks associated with banking operations, thus, an integral part of the corporate governance mosaic. The author adopted both quantitative and qualitative research methodology. Qualitative data were gathered via the use of