(Assessment of internal Audit function in promoting effective corporate Governance in commercial bank of Ethiopia: the case of Woliso town CBE Branch)

Abstract

The purpose of the study is to assess the role of internal Audit function in promoting effective corporate Governance in commercial bank of Ethiopia at Woliso branch. The study employed descriptive approach of research design and involves both quantitative and qualitative data gathering tools. Data were collected from 24 employees of the bank and management area through questionnaire and interview. The overarching rational of this study is that a quality of Internal audit function plays a critical role in corporate governance effectiveness which conforms to the concept that IAF has play an active role in effective governance and controls. Corporate governance is extended to consideration of all business risks operational, financial and compliance which may prevent an organization from achieving its objectives.However, this study therefore sought to investigate the internal audit practice in commercial bank of Ethiopia. Specifically, how the positioning of internal audit function, risk identification, measurement and prioritizations approach adopted by internal audit function, the level of independence of the internal audit function and adequate competent internal audit staff promote Effective internal audit practice in commercial bank of Ethiopia Woliso branch.