Internal Audit Function and Management Support in Nigerian Public Tertiary Institutions

Aims: This study examined the extent of management support for Internal Audit Function (IAF) in Nigerian public tertiary institutions as well as the determinants of management support for IAF.

Study Design: The research adopted a survey research design.

Place of Study: The study was carried out in the South-South and South-East geo-political zones of Nigeria.

Methodology: Data were collected using a survey questionnaire administered to the heads of IAF in Nigerian public tertiary institutions. The data were analysed using Stata 12. The study established the extent of management support for IAF by interpreting the overall mean responses of the heads Internal Audit Units. The study then formulated four hypotheses and tested them using ordinary least square method of multiple regression.

Results: The study found evidence that there was no significant management support for IAF in Nigerian public tertiary institutions in the dimensions of funding, training and skill development, and use of IAF reports. Conversely, it found management support for IAF in the dimension of access to information. The study further documented that the relationship with external auditor was positively and significantly related to management support. Finally, it found evidence that management- internal auditor relationship was negatively and significantly related to the management support.

It, however, did not find evidence that the age and size of the Nigerian public tertiary institutions were the determinants of management support for IAF.

Conclusions: The study concluded that management should increase its support to the IAF in the dimensions of funding, training and skill development and use of IAF report. It is recommended that the internal auditor should constantly evaluate his/her relationship with external auditors and management. Finally, it is also recommended that future studies should increase the dimensions of management support.