ASSESSING THE IMPACT OF INTERNAL AUDIT,WASTAGE COST AND INTERNAL CONTROL SYSTEM ON FINANCIAL CONTROL

Abstract

This study aims to examine the relationship between internal audit effectiveness, internal control and wasteful expenditures or financial control in the Pakistan. This study employed the survey research design. From the population of the study 200 people were selected as a sample for this study. The instrument used for collecting data from the respondents is the questionnaire. The data gathered from the respondents was analyzed using simple percentage statistics and hypothesis was tested using, the theoretical inclination is on the stewardship theory. The research is based on a quantitative approach and study based on cross sectional. Analyses were done using the fixed effect regression after conduction the tests. Findings indicate that internal audit can enhance financial control across all the expenditure programmed of Pakistan. In addition, educational training of internal audit staff can be very effective in achieving government financial control. The paper provides a veritable case study to higher institutions regarding educational qualification versus experience implications on public sector internal audit and accountability; it also offers an agenda for further research