Research Methods In auditing Assignment
Added on 2021-04-21
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Running head: RESEARCH METHODSInternal Audit Function & the Development of Corporate Governance CodeUniversity NameStudent NameAuthors’ Note
2RESEARCH METHODSTable of ContentsSection 1: Rationale for research in this area.............................................................................2Section 2: Specific Objectives...................................................................................................4Section 3: Research Methodology.............................................................................................4Section 4: Research Problems..................................................................................................13References................................................................................................................................14
3RESEARCH METHODSProject Title: Internal Audit Function and the development of corporate governancecode in Libya Section 1: Rationale for research in this areaThe study can help in comprehending internal control structures and the role played byinternal auditors that can add to the value and enhance business functions. The currentresearch study can help administration in appreciating the specific role played by internalauditing operations in the business concerns and comprehend the challenges they encounterin undertaking roles and aid in solving them. It can help in comprehending whether theirinvestment is worthwhile. Governing units as well as senior management in the firms havethe requirement for services of internal audit in order to be effective as well as efficient.Simultaneously, Eulerich et al. (2015) suggests that legitimacy of particularly internal auditaction along with missions have the need to be understood and upheld by senior managementof firms for enhancement of efficacies in promoting good governance, systems of control aswell as risk management. Context of the study Taking into consideration the background of my academic qualification, I intend to become aprofessional and specialized accountant in future. All professions have the need to acquirerequisite and relevant knowledge, necessary skills for undertaking the tasks. Further, in eachprofessional field it is essential to possess required personal excellence. Founded on thecurrent study, it can be hereby stated that individual attributes as well as necessary qualitiesinclude honesty, level of integrity as well as honesty. Accounting can be considered to be a very dedicated and specialized section in whichaccounting professionals have the requirement to show evidence of great amount of potential
4RESEARCH METHODSin their own trade. Drogalas et al. (2016) recommend that accounting professionals can getinfluenced together with the overall quality of financial information utilized and differentqualitative facets. Even if there are various approaches and tactics of accounting profession,efforts have been made for the purpose of designing an outline of scientific investigation inthe areas of auditing functions Proper considerations have the requirement to be on the overall quality of financialinformation presented in financial pronouncements of different reporting entities. However,this also elucidates illustratively that professional accountants have the need to be adequatelycompetent and need to possess specific know-how and proficiency for maintaining higherquality financial reporting. Eulerich et al. (2015) suggests that overall quality of accountingservice relies on the competence level of different professionals for preparing and presentingfinancial pronouncements. This sequentially enhances the performance of internal auditfunctions that can help on monitoring and promoting proper governance system in a specificcorporation. Internal audit can be regarded to be an integral section of the corporategovernance in both public as well as private segments and is necessarily a crucial componentof financial management and is a tool for enhancing the performance. Section 2: Specific ObjectivesResearch ObjectivesThe main purpose of the current study is as presented below:-To examine efficacies of internal audit function in the process of promoting goodgovernance with special emphasis on developing nation such as Libya. -To institute different factors that contribute to the efficacy of the internal auditfunction of firms that in turn affects corporate governance methods in Libya.
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