Author

  • Gideon Tayo AKINLEYE

    • Department of Accounting, Ekiti State University, Ado-Ekiti, Nigeria
    • Nigeria

  • Comfort Temidayo OLANIPEKUN

    • Department of Accounting, Ekiti State University, Ado-Ekiti, Nigeria
    • Nigeria

Abstract

This study examined the effects of information technology on internal audit in Southwest Nigeria Universities. Primary data were employed and questionnaires were distributed to the selected Universities. Out of 180 questionnaires, 152 questionnaires were filled and returned by the respondents. The study employed factor analysis and binary logit regression analysis as estimation techniques. The findings from factor analysis showed that Kaiser-Meyer-Olkin and Bartlett’s tests value was 0.786(78.6%) implying that the variables have a 78.6% variation in the data. The value of components variance revealed 62.750 on component 4 indicating that at component 4 there was 62.8% factor variation in the data. Nonetheless, the logit regression equation revealed that fraud discovery of IT (FD) has a positive and insignificant effect on internal audit. Also, IT effectiveness (ITE) revealed that ITE has a negative and significant effect on internal audit. Equally, asset recovery (AR) exhibited a negative and insignificant effect on internal audit. Furthermore, the external audit (EA) has a positive and insignificant effect on internal audit. This study concluded that a significant relationship exists between information technology and internal audit in Southwest Universities. It was recommended that Universities in Southwest should promote and encourage information technology in the internal audit department and also encourage the external users.

Keywords

References

  • Abiola, J. O. (2014). The Impact of Information and Communication Technology on Internal Auditors Independence: A PEST Analysis of Nigeria. Journal of Scientific Research & Reports, 3(13), 1738-1752.
  • Abu-Rishel, T. D. & Ivancevich S. H. (2003). Additional Opportunities for Internal Auditors in its Implementations. Internal Auditing, 18(2), 35-39
  • Abu-Musa, A. A. (2008). Information technology and its implications for internal auditing: An empirical study of Saudi organisations. Managerial Auditing Journal, 23(5), 438-466.
  • Al-Duwaila, N. & AL-Mutairi A. (2017). The Opinion of Auditors towards the Importance and Knowledge of Information Technology in Kuwait. International Journal of Business and Management, 12(3), 1833-3850.
  • Al-Fehaid, A. M. (2003). An investigation of the influence of information technology on audit risk: an empirical study in Saudi Arabia Lough Borough University Institutional Repository.
  • Al-Refaee, K. & Saim, A. (2013). The effect of using information technology increasing the efficiency of internal auditing systems in Islamic Bank operating in Jordan. Research Journal of Finance and Accounting, 4(9), 2222- 2847.
  • Arena, M. (2013). Internal audit in Italian universities: An empirical study. Procedia - Social and Behavioral Sciences, 93, 2000-2005.
  • Burnaby, P. & Hass, S. (2011). Internal auditing in the Americas, Management Audit Journal, 26(8), 734-756.
  • Ebimobowei, A. & Yadirichukwu, E. (2011). Information technology and internal evidence and financial performance of an organisation. European Journal of Accounting, Auditing and Finance Research, 3(7), 64-71.
  • Effiok, S. O. & Bassey, B. E. (2015). Information Technology, Audit Evidence and Financial Performance of an Organisation. European Journal of Accounting, Auditing and Finance Research, 3(7), 64-71.
  • George, D., Theofanis, K. & Konstantinos, A. (2015). Factors associated with Internal Audit Effectiveness: Evidence from Greece. Journal of Accounting and Taxation, 7(7), 113-122.
  • Hamdan, A. & Abzakh, M. (2010). The (e-auditing) and its Effects on Persuasiveness of Evidence: Evidence from Bahrain, European, Mediterranean and Middle Eastern, Conference on Information Systems.
  • Henderson, D., Davis, J. & Lapke, M. (2013). The effect of internal auditors’ information technology knowledge on integrated internal audits. International Business Research, 6(4), 147-162.
  • Hermanson, D., Hill, M. C. & Ivancevich, D. M. (2000). Information Technology- Related Activities of Internal Auditors. Journal of Information Systems Auditing Managerial Auditing, 13(8), 465-472.
  • Kombo, B. (2013). The Effects of Computerized Accounting System on Auditing Process: A Case Study of Mtwara District Council (MDC) (Dissertation for Masters).
  • Mahzan, N. & Veerankutty, F. (2011). IT auditing activities of public sector auditors in Malaysia. African Journal of Business Management, 5(5), 1551-1563.
  • Moorthy, M. K., Seetharaman, A., Zulkifflee, M. Z., Gopalan, M. & San, L. H. (2011). The impact of information technology on Internal Auditing. African Journal of Business Management, 5(9), 3523-3533.
  • Mustapha, M. & Lai, S. J. (2017). Information Technology in Audit Processes: An Empirical Evidence from Malaysian Audit Firms. International Review of Management and Marketing, (2), 53-59.
  • Rezaee, Z. & Reinstein, A. (1998). The Impact of Emerging Information Technology on Auditing. Managerial Auditing Journal, UK, 13(8), 465 -471.
  • Salehi, M. & Husini, R. (2011). A study of the effect of information technology on internal auditing: Some Iranian evidence. African Journal of Business Management, 5(15), 6169-6179.
  • Shilla, W. C. (2014). The Impact of Information Technology on Internal Auditing in Tanzanian Organizations. published Dissertation, Tanzania, Mzumbe University.
  • Solomon, I. & Trotman, K. (2003). Experimental judgment and decision research in auditing, the first 25 years of AOS. Accounting, Organizations and Society, 28, 395-412.

Downloads

No downloads have been recorded for this article yet. Figures appear here once readers begin downloading the full text.

How to Cite

AKINLEYE, G. T., & OLANIPEKUN, C. T. (2019). Effects of Information Technology (IT) on Internal Audit in Southwest Nigeria Universities. Journal of Economics and Behavioral Studies, 11(1(J), 22-26. https://doi.org/10.22610/jebs.v11i1(J).2742

Share this article

License

Copyright (c) 2019 Gideon Tayo AKINLEYE, Comfort Temidayo OLANIPEKUN (Author)

Creative Commons License

This work is licensed under a Creative Commons Attribution 4.0 International License.

Author (s) should affirm that the material has not been published previously. It has not been submitted and it is not under consideration by any other journal. At the same time author (s) need to execute a publication permission agreement to assume the responsibility of the submitted content and any omissions and errors therein. After submission of revised paper in the light of suggestions of the reviewers, the editorial team  edits and formats manuscripts to bring uniformity and standardization in published material.

This work will be licensed under Creative Commons Attribution 4.0 International (CC BY 4.0) and under condition of the license, users are free to read, copy, remix, transform, redistribute, download, print, search or link to the full texts of articles and even build upon their work as long as they credit the author for the original work. Moreover, as per journal policy author (s) hold and retain copyrights without any restrictions.

Keywords

Section

Research Paper

Published in

Vol. 11 No. 1(J) (2019) Leadership, Policy & Investor Behaviour View issue contents

Published

2019-03-10

Submissions

Have research to publish? Journal of Economics and Behavioral Studies welcomes submissions.

Make a Submission