1. NETSANET BIBISSO DODA - Research Scholar, Department of Commerce and Management Studies, Andhra University,
Visakhapatnam, India.
2. Dr. K.V. RAMANA MURTHY - Research Director, Department of Commerce and Management Studies, Andhra University,
Visakhapatnam, India.
This study aimed to examine the trajectory of internal audit effectiveness in Ethiopia's higher education context. The study employed a quantitative data type. The data was collected from nine higher education institutions (HEIs) purposively selected within the southern cluster. Five years of data were employed. The research was conducted using the institutions' internal and external audit reports. Graphs, tables, and charts are commonly employed in academic discourse. The findings indicate that the IA function does not detect material misstatement and fraud. Additionally, the internal control system needs to be stronger, and management needs to support the implementation of recommendations made by auditors entirely. Furthermore, there needs to be a risk management strategy. The study suggests a collaborative effort between management and internal auditors is essential to enhance value. Management designs systems and procedures and allocates necessary resources to enhance the internal system and internal audit functions. The auditors engage in consultation with management in order to establish the control environment and develop a plan for risk assessment design.
Internal audit effectiveness, audit findings, implementation of audit recommendations.