Determinants of internal audit effectiveness in fraud prevention and detection: Evidence from a Ghanaian public university

Abstract

This study examines the key factors that determine Internal Audit (IA) effectiveness in fraud prevention and detection at the University of Mines and Technology (UMaT), Ghana, and evaluates their current level of implementation. A mixed-methods research design was employed. Quantitative data were collected through structured questionnaires administered to 35 staff members, achieving an 87.5% response rate. In addition, qualitative data were obtained through in-depth interviews with 10 key informants. Quantitative data were analysed using descriptive statistics in Excel, while qualitative responses were examined through thematic analysis using NVivo. The findings indicate that critical determinants of IA effectiveness, such as management support, organizational independence, adherence to Institute of Internal Auditors (IIA) Standards, and auditor competence, are substantially present within the institution. However, to further strengthen internal audit effectiveness in fraud prevention and detection, the study recommends enhanced specialized fraud training, the formalization of whistleblower policies, and the adoption of advanced IT audit tools.