| Abstract: | The main purpose of this study was to assess the internal audit practice: the case of Addis international bank S.C. Management support, management’s perception of internal audit values, organizational independence of internal auditors, placement of adequate and competent internal audit staff, and the presence of approved internal audit charter were the identified factors to assess the practices of the internal audit. The study adopted qualitative research methods and the internal audit staffs of the Addis international bank were the primary source of data. Data was collected through questionnaires which were developed through review of the related literatures, journals, research articles, and websites used to gather data for the study. The collected data from the questionnaires were coded, they were entered into the Statistical Package for Social Sciences (SPSS) version 20 computer package for analysis. Purposive sampling technique was used to conduct the research of which the internal audit staffs were primary source of data collected. According to the research findings, the bank has strong organizational independence for internal auditors. The top management support to internal audit and management’s perception of internal audit value is good that it is facilitating the practice of internal auditing. Addis international bank should provide adequate support and encouragement for training and development of the internal audit staff. Furthermore, the management should acknowledge on the internal audit recommendations as a tool which contributes to the improvement of risk management, control and governance using a systematic and disciplined approach in the bank. |
