Table 1; Analyzing gender of respondents
Frequency Percent Valid Percent
Cumulative Percent
Valid Male 6 75.0 75.0 75.0
Female 2 25.0 25.0 100.0
Total 8 100.0 100.0
The respondents cut across male and female gender majority were male 6 respondents representing 75.0% and female 2 respondents representing 25.0%
Table4. 2 Analyzing Qualification of respondents
Frequency Percent Valid Percent
Cumulative Percent
Valid Bachelor 4 50.0 50.0 50.0
Master 4 50.0 50.0 100.0
Total 8 100.0 100.0
Table 4.2 shows theeducational levels of respondent 4 representing 50. 0% holds bachelor, while another 4 representing 50.0 %holds bachelor.
Table 4.3Analyzing work experience of respondents
Frequency Percent Valid Percent
Cumulative Percent
Valid less than 10 5 62.5 62.5 62.5
11-20 3 37.5 37.5 100.0
Total 8 100.0 100.0
Table 4.3 shows the working experience of the respondent it shows that s respondent chose less than 10 as their working experience representing 62.5%wile 3 respondent chose11
Research question 1
To what extent do the challenges and problem of internal audit affect banks?
To answer this question we used questionnaire items 1, 2,3,4,5, and 6
Table 4.4 Analyzing Internal auditors take requisite training for carrying out their duties
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.4 shows that 4 respondents strongly agree that internal auditors take requisite training required for carrying out their duties and 2 respondents representing also agree that internal auditors take requisite training required for carrying out their duties while 1 respondents representing 12.5% strongly disagreed and also 1 respondent representing 12.5% disagreed that internal auditors don’t take requisite training required for carrying out their duties.
Table 4.5: Analyzing that internal auditors have adequate technology and material in carrying out their duties.
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.5 shows that 4 respondent strongly agree that internal auditors have adequate technology and materials in carrying out their duties and 2 respondent representing agree that internal auditors have adequate technology and materials in carrying their duties while 1 respondent representing 12.5% strongly disagreed and also 1 respondent representing 12.5% disagreed that internal auditors have adequate technology and material in carrying out their duties.
Table 4.6 Internal auditors have restricted access to the necessary document needed for carrying out their duties
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 1 12.5 12.5 12.5
Agree 1 12.5 12.5 25.0
Strongly disagree 4 50.0 50.0 75.0
Disagree 2 25.0 25.0 100.0
Total 8 100.0 100.0
Table 4.6 shows that 1 respondent strongly agree that internal auditors have restricted access to the necessary document needed for carrying out their duties and 1 respondent representing agreed that internal auditors have restricted access to the necessary document needed for carrying out their duties.
Table4.7 Internal auditors are not independent
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 1 12.5 12.5 12.5
Agree 4 50.0 50.0 62.5
Strongly disagree 1 12.5 12.5 75.0
Disagree 2 25.0 25.0 100.0
Total 8 100.0 100.0
Table 4.7 shows that 1 respondent strongly agree that internal auditors are gggnot independent and 4 respondent representing and agree that internal auditors while 1 respondent representing 12.5 strongly disagreed and also 2 respondent representing 25.0 disagreed that internal auditors are not independent.
Research Question 2
Table4. 8 Internal auditors should report to shareholders
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 2 25.0 25.0 25.0
Agree 4 50.0 50.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.8 shows that 2 respondent strongly agree that internal auditor should report to shareholders and 4 respondent representing agreed that internal auditors should report to shareholders while 12.5% strongly disagree and also 1 respondent representing12.5 disagreed that internal auditors should report to shareholders
Table 4.9 There should be quality technology and materials available for internal auditors
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.9 show that 4 respondent strongly agree that there should be quality technology and materials available for internal auditors and 2 respondent representing agreed that there should be quality technology and materials available for internal auditors while 1 respondent representing 12.5 disagreed that there should be quality technology and materials available for internal auditors .
Table 4.10 Management should provide training ground for internal auditors
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.10 shows that 4 respondent strongly agreed that management should provide training ground for internal auditors and 2 respondent representing agreed that management should provide training ground for internal auditors while one respondent representing 12.5% strongly disagreed also 1 respondent representing 12.5% disagreed that management should provide training ground for internal auditors.
Table 4.11 Internal auditor should have easy access to necessary document
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.11 that 4 respondent strongly agree that Internal auditors should have easy access to necessary document and also 2 respondent agreed with a percentage of 75% 1 strongly disagree that internal auditors should have access to necessary document 1 respondent that also disagreed that auditors should have access to the necessary document.
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 3 37.5 37.5 37.5
Agree 3 37.5 37.5 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.12 shows that 3 respondent strongly agree that internal auditors should be independent 37.5%while 3 respondent also agree with the percentage of 37.5% also 1 strongly disagree with the percentage of 12.5% and 1 also disagreed 12.5 %
Table 4.13 Internal auditors should have good relationship with management
Frequency Percent Valid Percent
Cumulative Percent
Valid Strongly agree 4 50.0 50.0 50.0
Agree 2 25.0 25.0 75.0
Strongly disagree 1 12.5 12.5 87.5
Disagree 1 12.5 12.5 100.0
Total 8 100.0 100.0
Table 4.13 shows that 4 respondent strongly agreed that internal auditors should have a good relationship with management 2 respondent representing agreed that the internal auditors should
have a good relationship with management while 1respondent representing strongly disagreed 12.5% and also 1 respondent representing disagreed 12.5%.
Test of hypothesis stated earlier in this research were tested using t-test method. Three step were used to test the hypothesis. In step one; the hypothesis was stated in null and alternate forms. In step two ,the result were analysed while in step three the decisions were made.The decision rule involved the rejection or acceptance of the null hypothesis based on criterion of the techniques of analysis.
Test of hypothesis one
Step one; Restatement of hypothesis in null and alternate form.
H0 There is no significant challenges faced by internal auditors H1 there is significant challenges faced by internal auditors STEP TWO; Presentation and Analysis of Result
Table -coefficient of t statistics on the challenges faced by internal auditors.
Variable T*- statistics Probability
Challenges faced by internal Auditors.
1.724159 0.1230
The regression extract in table 4.4 shows that the t-statistics of the challenges internal audit face in Nigerian Banks yielded 1.724159 with a corresponding probability of 0.1230 this shows clearly that the value of t- statistics is less than the absolute value of 2.
Coefficient of t- statistics on prospect of internal audit in Nigerian Banks
Variable T* statistics Probability value
Prospect of internal audit in Nigerian Banks.
0.556207 0.5933
Step three; decision
From the above analysis, it is clearly seen that the computed t*-statistics value =1.724159 is less than the absolute value of 2. This compels then acceptance of the null hypothesis (H0) and the rejection of the alternative (H1). Hence there is no significant prospect faced by internal auditors in Nigerian Bank
CHAPTER FIVE
SUMMAY OF FINDINGS AND RECOMMENDATIONS.
This chapter presents the summary, conclusion and recommendations.