Internal audit function’s role in enhancing accountability at the University of KwaZulu-Natal.

Abstract

The role of higher learning institutions in social growth, teaching, and skills creation is of great importance, necessitating the implementation of solid corporate governance practices. An important principle of good governance is accountability, which ensures institutions function effectively and efficiently. Public service institutions and their employees are held responsible for their conduct and judgments, encompassing various aspects of performance such as fairness and accountable management of public funds. The lack of employee accountability relating to internal control increases the risk of inaccurate reporting, corruption, theft, fraudulent activities, and wasteful and fruitless expenditures. This research investigates the contribution of the internal audit function toward enhancing accountability at the University of KwaZulu-Natal (UKZN). The study aims to assess management's comprehension of the internal auditing function and identify challenges that hinder the enhancement of internal auditors' performance at UKZN. The researcher employed a qualitative approach in executing the study to attain the research goals. Semi-structured interviews were undertaken, and 80% of the targeted population participated in the research. The findings of the study showed that management understands accountability at UKZN and has mechanisms to promote accountability; however, they need improvement, as challenges were identified and need to be addressed. Key challenges experienced by management to improve accountability and performance of internal audit function (IAF) include lack of consequence management for non-performance, training, internal audit (IA) visibility, awareness, and tools to measure accountability. The study concludes by providing recommendations for improving the IAF’s effectiveness and enhancing accountability at UKZN.