Perception of internal audit function of the MBA students at UKZN GSB&L.
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Date
2017
Authors
Nayiager, Vernon.
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Abstract
ABSTRACT
This study focused on the issue of the perceptions over the internal audit function. Various trains of thoughts exist and there are many debates on the value of the internal audit function. Currently, no study exists in the local context of the KwaZulu-Natal (KZN) market space to determine the value of the internal audit function in organisations. To address the problem, the purpose of the study was to explore the perception of the internal audit function within the KwaZulu-Natal environment.
This study explored perceptions of the internal audit function of the Masters of Business Administration (MBA) students at University of Kwazulu-Natal(UKZN) Graduate School of Business and Leadership(GSB&L). For this purpose, questionnaires were used as the data collection tool. The second year MBA students at the UKZN GSB&L, comprising 80 students (both part time and block release), were selected to be participants for the study. Reponses were received from 58 of these students, which was a response rate of 72.5%.
Findings of the study were able to prove that most respondents seemed to think their internal audit is well resourced; that no factors negatively impact their internal audit function; that there is alignment of the corporate governance structures and the internal audit function; and that the internal audit function is well implemented which adds “value” to the organisation. The organisation data collected were divided into the following four themes: The resources allocated to the establishment and maintenance of the internal audit function; factors that affect the implementation of an effective internal audit function that adds value to the organisation; alignment of the internal audit function; and the governance process and future strategy of the organisation. These four themes will be useful to understanding the view of MBA students at UKZN. The findings will assist the organisations to better organise and tailor their internal functions.
Description
Master’s Degree. University of KwaZulu-Natal, Durban.