THE EFFECTIVENESS OF INTERNAL AUDIT AS A STRATEGIC MANAGEMENT TOOL

ABSTRACT

This research study delves into the effectiveness of internal audit as a strategic management tool in contemporary organizational settings. The project examines the role of internal audit in enhancing strategic decision-making processes, promoting accountability, and contributing to improved organizational performance. The study is conducted with a focus on the BIU Branch of United Bank for Africa and aims to evaluate how internal audit practices are integrated with strategic management processes. The research employs a mixed-methods approach, combining quantitative analysis of survey data with qualitative insights gathered through interviews. Data is collected from employees across different levels of the organization, providing a comprehensive understanding of the perceptions regarding internal audit's role in strategic management. The study also explores the alignment of internal audit practices with organizational objectives and the impact of these practices on financial performance, risk management, and compliance. The findings of this research contribute to the existing body of knowledge on the role of internal audit in strategic management. The study's outcomes have practical implications for organizations seeking to optimize their internal audit functions as strategic tools for achieving long-term goals. By understanding the dynamics between internal audit and strategic management, organizations can enhance their decision-making processes, strengthen risk management strategies, and ultimately achieve sustained growth and success.