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Browsing Graduate School of Business Publications by Author "Chigariro, V."
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- ItemAn analysis of the internal auditing on the performamnce of banking institutions in Zimbabwe(2020-08) Chinjova, F.; Chigariro, V.The purpose of the research study was to establish the effects of internal auditing on the performance of banking institutions in Zimbabwe. The motivation for the study was driven by the continuous modernisation and changes in the banking sector that have reportedly, impacted on the operations and processes of the Zimbabwe’s financial sector. Risk in banking institutions have also increased due to the continuous changes in the financial operating environment and internal controls in place have since significantly changed so as to adapt to changes in the operating environment. More precisely, the security of depositors’ funds remains questionable as cases of banking funds’ theft continued to occur regardless of the existence of the internal audit function in banking institutions. The study used pragmatism as a research philosophy and stratified sampling technique was used to select a sample of 16 banks from a total population of 19, whose employees were used during the actual data gathering process. More importantly, the Pearson’s correlation and multiple regression analysis performed showed that auditor independence, management support, internal controls and audit practices are critical and explicit factors that directly affect the performance of Zimbabwe’s banking institutions. The study recommended that the Zimbabwe’s banking sector, from time to time, should periodically review and assess the compatibility of internal controls to match new demands in the financial sector. In addition, management of the banking institutions operating in Zimbabwe should also commit itself in adequately availing financial resources to ensure that the internal audit function performs its tasks without too many obstacles. Further, the study recommended that top management of the sector, especially the CEOs, should not interfere or victimise internal audit officers in the course of performing their mandatory tasks and audit charters should be regularly reviewed and updated so that recent changes in the financial sector are incorporated to improve performance.