Corporate Governance and Internal Audit: A Case Study of MMDAs in Volta Region of Ghana

Abstract

This study sought to examine the effect of Internal Audit on Corporate Government at Metropolitan, Municipal, and District Assemblies (MMDAs). Five (5) Municipal and District Assemblies from the Volta Region were selected as a case study. Five (5) respondents which includes the Finance Officer, Budget Officer, Audit Committee member, Administrator and a Director further sample from each of these selected Municipal and District Assemblies. It was found from the study that, Internal Audit staffs are highly qualified in term education however they lack enough staff in terms of numbers. It is also noted from the study that, qualification and experience, working environment, regulatory framework, and the independency of the Internal Audit are very essential for the conduct of effective Internal Audit practices in Metropolitan, Municipal, and District Assemblies. Furthermore the result indicates that, the existence and the role of Audit Committee in promoting effective audit practice at the Municipal and District level has not been effective. Most importantly, the study found that, effective Internal Audit practices impact good corporate governance of Municipal and District Assemblies. The study therefore recommended that, in-service training be organized regularly at the Metropolitan, Municipal and District Assemblies to improve their experience level since qualification and experience are major determinants of effective Internal Audit.