Budgeting and Budgetary Control in Public Sector Institution. The Role of Internal Audit Unit. A Case of NVTI.
An Internal audit function is an essential part of any public expenditure management system and should ensure that public spending is within budgetary provisions, disbursements comply with specific procedures and provides for timely reconciliation of accounts been motivated by this responsibility of the unit to undertaken this study, the main objective of the study is to examine the current practices and involvement of the internal audit unit for the National Vocational Training Institute as public sector institution in Ghana. As an investigative study, the researcher utilized both primary and secondary data. In the study, the primary data was gathered through the use of interviews, structured and unstructured questionnaires administered to the management and staff of the institute in both Accra and Kumasi. The secondary data was gathered through the institute by way of the strategic policy guide line, financial and non-financial reports. The study finds that, the internal audit unit of the institute were up to task and do not limit their operations to pre-audit and financial compliance as suggested by the World Bank Report on Ghana (2006). The internal auditors of the institute plays its roles by engaging in the provision of services aimed at ensuring compliance with budget laws, regulations and other policies, effective checks on internal control mechanism and detection and prevention of fraud. The study equally found however that there is lack of training workshops on budgetary control within the institute and this limits the capacity of the internal auditors of the institute to manage risk effectively and timely.
A Thesis Submitted to the Department of Accounting and Finance in Partial Fulfillment of the Requirements for the Award of MBA Accounting,