Internal Auditing Practices and Internal Control System in ...

International Journal of Business and Social Science Vol. 4 No. 4; April 2013 165 Internal Auditing Practices and Internal Control System in Somali Remittance Firms Hussein Abdi Mohamud Assistant Lecturer Faculty of Business and Accountancy SIMAD University Mogadishu-Somalia Abstract This article investigated the relationship between Internal Auditing Practices and Internal Control System in Somali remittance firms. The demographic profile of the respondents was age, gender, qualification and experience. The main objectives are to identify the role of Internal Auditing , and to identify the level of Internal Control System . The study is based on 83 target population especially Accountants, finance director, chief cashier and chief executive officer in remittance firms Descriptive and correlation analysis was used.

Internal Auditing became very important to world businesses, since industrial revolution resulted in factory systems that were financed by stockholders. This situation necessitated the need for internal auditing to protect shareholders‟ best interest. The major factors assist in emergence of internal auditing was the extend span of

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  System, Internal, Practices, Control, Auditing, Internal auditing practices and internal control system, Internal auditing

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