Internal Audit And Risk Assessment In Ethiopian Public Enterprises

This research paper examined internal auditing and risk assessment in Ethiopian publicrnenterprise context. 20 public enterprises were purposefully selected. Mixed researchrnapproach was used and the data were collected by using questionnaires and documentrnreview. Survey results showed that all public enterprises have internal audit function;rnoperational audit requires most resources, with compliance audit second important auditrntype. The amount of audit resources devoted to risk assessment reveals the relativernrelevance of this kind of activity. Results also showed that many Ethiopian publicrnenterprises were introduced formal risk assessment process in their internal auditrnfunction, and few enterprises were on the way to introduce formal risk assessmentrnprocess. Hence, for internal audit functions that were not incorporated control risk selfrnassessment, it is better to incorporate for effective risk assessment. Thus, this study willrnbe beneficial in terms of the decision making of the board of directors, audit committee ofrnthe organization and other regulatory bodies

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