ASSESSMENT OF INTERNAL AUDIT PRACTICES: A CASE OF ETHIOPIAN FOOD AND DRUG AUTHORITY

Abstract

Applying well designed internal audit functions is believed one of the significant contributors to promote and maintain strong internal control system in an organization. Hence, this study is aimed to assess the internal audit practice in ETHIOPIAN FOOD AND DRUG AUTHORITY, using three major variable, Effectiveness of internal audit (with sub variable organizational independence, auditor competence and Management support) Challenges of internal audit and Organizational setting. the study adopted a descriptive research design and used judgment sampling technique. Of all the distributed questionnaire 78 (85%) were able to be collected with a response, accordingly the finding result revealed that the organization did not organize the internal audit with enough resource, incompatible size of the department unlike the frame in structure, the of absence immediate corrective action against the internal audit comments and findings and inadequate budget to accomplish activities per plan, hence to acquire better result from the internal audit functions management of the of the organization should adopt and improve these recommendation.