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Effects of External Audit on Financial Accountability in Higher Institutions in Akwa Ibom State

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  • Chibuogwu, Dupe Ejabena PhD

    (Department of Accounting)

  • Diri, Darapu Tumini

    (Department of Banking and Finance)

  • Nwosu, Emmanuel Ehikioya

    (Department of Banking and Finance)

Abstract

Financial accountability is critical in higher institutions due to the significant funds they manage from government subventions, tuition fees, and internally generated revenues. This study examined the effects of external audit on financial accountability in higher institutions in Akwa Ibom State. Using a descriptive survey design, data were collected from 117 finance officers, audit committee members, and external auditors across universities, polytechnics, and colleges of education, employing census sampling. Structured questionnaires and interviews were used, and data were analyzed using descriptive statistics and regression analysis at 0.05 significance level. Findings revealed that external audit significantly improves transparency, compliance with financial regulations, detection and prevention of irregularities, and implementation of audit recommendations. The study concludes that external audits are vital for enhancing financial accountability, and timely implementation of recommendations is essential. Recommendations include strengthening audit implementation, enhancing auditor independence, and providing capacity building for finance personnel.

Suggested Citation

  • Chibuogwu, Dupe Ejabena PhD & Diri, Darapu Tumini & Nwosu, Emmanuel Ehikioya, 2026. "Effects of External Audit on Financial Accountability in Higher Institutions in Akwa Ibom State," International Journal of Research and Scientific Innovation, International Journal of Research and Scientific Innovation (IJRSI), vol. 13(2), pages 81-89, February.
    • Handle: RePEc:bjc:journl:v:13:y:2026:i:2:p:81-89
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    References listed on IDEAS

    as
    1. Amaka Elizabeth AGBATA & George EZEALA, 2025. "Internal Audit And Financial Reporting Quality Of Quoted Firms," Social Sciences and Education Research Review, Department of Communication, Journalism and Education Sciences, University of Craiova, vol. 12(1), pages 245-255, July.
    2. Dennis L Buchanan & Mark H A Davis, 2025. "Cash Flow Modelling and Financial Accounting," World Scientific Book Chapters, in: METALS AND ENERGY FINANCE Interrelationship between Technical and Financial Risk in Mineral Projects, chapter 2, pages 13-46, World Scientific Publishing Co. Pte. Ltd..
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