Examining the Impact of Internal Audit on Organisational Performance: A Case of Save the Children Uganda
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Date
2024-08-22
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Uganda Christian University
Abstract
Over time, internal auditing has undergone tremendous change. The evolution of the Internal Auditing Function (IAF) was described by Ramamoorti (2003), who pointed out that at first, the IAF was limited to financial compliance. By 1947, operational and performance characteristics of organizations were added to this responsibility by the Statement of Responsibilities of Internal Auditing. Sawyer
(1981) defined internal auditing as an impartial evaluation procedure to guarantee policy compliance, resource efficiency, and alignment with company objectives. Initially, the primary focus of internal auditing was financial audits to verify adherence to regulatory requirements and accounting standards. The early 20th century professionalization of the industry was greatly influenced by the 1941
founding of the Institute of Internal Auditors (IIA) (IIA, 2023). The function's purview was expanded to include operational and performance factors in 1947 with the release of the Statement of Responsibilities of Internal Auditing (IIA, 2023).
Internal auditing is a vital role that is implemented in organizations to offer impartial and unbiased evaluations of risk management, control procedures, and governance frameworks. Even though internal auditing is acknowledged as important, many firms struggle to maximize its capabilities in order to improve organizational performance. This study focuses on Save the Children Uganda's (SCU) internal audit procedures. SCU is a well-known global non-governmental organization (NGO) that works to better the lives of children and communities.
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Undergraduate research