Factors influencing the performance audit practice: a case of office of the auditor general in Zimbabwe.
- Author
- Boora, Tinotenda
- Title
- Factors influencing the performance audit practice: a case of office of the auditor general in Zimbabwe.
- Abstract
-
The aim of this study was to determine factors influencing performance audit practice: a case of the Office of the Auditor-General. This study was based on principle-agent theory. Descriptive approach was used in this study. Both quantitative and qualitative research approach was used with 68 participants. Questionnaire and interviews were used to utilise data in this study. Results were presented in graphs, pie charts and graphs. The results of the study indicated that the office of the auditor general has a clear legal mandate to conduct performance auditing. However, the Regional Government's offices and organizations are subject to audits by the Office of the Auditor General in the areas of financial matters, how they perform, sustainability, technology and information oversight, special audits, and other audits therefore the legal framework of the OAG need to be updated. Also the researcher found out that the OAG’s independence is at risk because of the current economic situation in Zimbabwe the remuneration which is paid using the interbank rate on the date of transaction may not satisfy the auditors this put them at risk of accepting gifts from the audited firm thereby violating independence and objectivity of the auditors. The OAG Performance Auditors have higher educational requirement and qualified skills combined with experience. However, the researcher found out that the auditors with higher educational background choose to leave which leads to higher turnover percentage thus, affect the offices’ performance as a whole. The research recommended that there should be a clear legal mandate and properly implementing it which involves having the freedom to choose resources and tasks to be completed as well as the parliament must provide the Office of the Auditor General with appropriate financial independence in the area of budget.
- Date
- June 2023
- Publisher
- BUSE
- Keywords
- Performance Audit
- Auditor-General
- Supervisor
- N/A
- Item sets
- Department of Accountancy