Undergraduate Research Collection

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Browsing Undergraduate Research Collection by Author "CHEWE, Emmanuel"

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    The Impact of Internal Audit on Financial Reporting Quality: A Case Study on ZANACO Acacia Park
    (University of Lusaka, 2024) CHEWE, Emmanuel
    This study evaluated the impact of internal audit function on financial reporting worth at ZANACO bank. The study was conducted in Lusaka Zambia at ZANACO bank which is located along Cairo road. The objective of this study was to determine the impact internal audit independence has on the quality of financial reporting quality as well as to determine the effectiveness of the internal controls systems and audit committee oversight in ensuring that the internal audit function contributes to enhancing financial reporting quality. The sample for the quantitative data analysis consisted of 25 respondents out of a chosen sample size of 25 respondents which was found by calculating 10% of 250 employees at ZANACO bank, presenting different age groups, gender, job positions, and employment lengths. The responders shared their perspectives on the influence of internal audit on financial reporting based off the objectives that were prepared in the study. From the 25 respondents selected for the study only 22 answered this gave a response rate of 88%.The data were analysed in tabular forms to present frequencies in percentage form. The result of this investigation was that internal audit has a positive impact on the worth of financial reporting at ZANACO bank. However, some responders expressed perceptions of limited impact of internal audit on the quality of financial reporting in certain areas such as ZANACO bank’s audit committee oversight and their internal controls. This indicates the need for continuous improvement in these areas. The report provides useful insights into the role of the internal audit function at ZANACO Bank. The results provided for the bank to strengthen some significant of its areas such as the audit committee oversight and the internal controls of ZANACO bank. Overall this study contributes valuable insights into the role of internal audit at ZANACO bank. The results provide guidance for the bank to strengthen its governance practices and address areas that require improvement by implementing recommendations.