ASSESSING DETERMINANTS OF VALUE-ADDING ROLE OF INTERNAL AUDIT EFFECTIVENESS: IN THE CASE OF ETHIOPIAN SHIPPING & LOGISTIC SERVICE ENTERPRISE (ESLSE)

Abstract

The main objective of this study was to assessing determinants of value-adding role of internal audit effectiveness in the context of Ethiopian shipping & logistic enterprise. The study employed a descriptive research design to address the research objectives. Primary data were collected using questionnaire, while secondary data was gathered from organizational policy documents, internal audit manuals and reports. Given the nature of the data, both quantitative and qualitative data were used. For the quantitative data, frequencies, means, and standard deviations were applied, while in-depth discussions and expositions were used for the qualitative data. The study's findings suggested that the internal audit function adds value to the enterprise by enabling it to achieve its organizational goals. This role is facilitated by the presence of management support, communication, independence, and objectivity of internal auditors, adequate and competent internal audit staff, and the quality of the audit. In this manner, it was recommended that the BOD and management of the enterprise give undue attention to the Internal Audit Department, taking note of its importance in adding value to the enterprise and achieving its organizational goals efficiently and effectively.