| Abstract: | The objective of the research is to assess the internal audit practice of the five star hotels focusing on the mandatory guidelines of international professional practice framework. The research deployed descriptive research design. There are 22 internal auditor in the nine five star hotels and the entire population, all the 22 internal auditors, were used for the study. Likrate scale type of questioners close and open end question was used to collect primary data from the entire population. From the distributed questioners 20(91%) of them were collected, coded and analyzed with the help of the commonly used statistical instrument for social sciences called Statistical Package for Social Sciences (SPSS version 23) for descriptive statistics. After the analysis of the data the results in the form of frequency, percentage, mean and standard deviation are presented by using tables. The study shows that there is lack of understanding by the owners, managements and staffs of the hotel for the internal audit activities and the majority of the results revels that the internal audit practice in the five star hotels in respect of the mandatory guidelines of international professional practice framework is weak. Among others most of the hotel have not clearly defined charter, the conformance level of the majority of the attributed and performance standards are poor, most hotels have not board of directors, the interventions of owners are high, the understanding and support of the management and the staff for the internal audit is not convincing. In this regard the study recommends the possible solutions for these weaknesses as; the owners should minimize their interventions and form board of directors, the internal auditors with the management should create awareness about the activities’ of the internal audit and work hard to improve the poor quality level of the internal audit practice to adequate level. |
