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 APPENDIX II

RESEARCH QUESTIONAIRE

INSTRUCTION

Please kindly indicate your answer to the questions by ticking good ( ) in the
box provided beside the options or make short comments where necessary.

SECTION A : DEMOGRAPHICS

1. NAME: _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _

2. SEX: (a) male (b) female

3. AGE RANGE (a) 20 – 25 (b)26 – 35

(c) 36 and above

4. QUALIFICATION (a) PhD (b) OND/NCE

(C) B.Sc. (d) M.Sc.

5. NUMBER OF YEARS WORKED WITH THE ORGANIZATION

(a) 1 – 5 (b) 6 – 10

(c) 11 – 15 (d) 16-20

(e) 21 and above

SECTION B: GENERAL INFORMATION

6. What is the name of your company?

7. Does your company engage in Internal Audit?

(a) YES (b) NO

 APPENDIX I

LETTER TO RESPONDENT

Department of Accounting,

Faculty of Management Sciences,

Rivers State University,

Port Harcourt.

30th July, 2018.

Dear Respondent(s),

I am a final year student of the above mentioned institution and department,

undertaking a research study on “internal audit practice and financial
performance of manufacturing firms in Port Harcourt”.

This is purely academic exercise in partial fulfillment of the award of

Bachelor of Science (B.Sc.) degree in Accountancy. Please kindly assist by
completing the questionnaire. It is assumed that all information supplied in regard
will be used solely for purpose of the study.

Thank you in anticipation

Yours Faithfully,
S/NO. INTERNAL AUDIT PRACTICE SA A SD D
Experience of Audit

1 Internal auditors lack the basic

skills to perform their duties.
2 There are flaws of audit model
and accounting system
3 Internal auditors are qualified
with auditing certification such
as the Certified Internal Auditor
(CIA)
4 Internal audit report addresses
weakness

Independence of Audit

5 Independence is the essence of

auditing

6 Internal Auditors perform their

duties with a greater degree of
autonomy and independence
from Management
7 Independence is the essence of
auditing
and recommendations would be
respected
8 Internal auditors may not have
a conflict of
interests with the company
FINANCIAL PERFORMANCE

Return on Investment
9 Auditors provides assurance to
shareholders

10 Banks and trade suppliers rely

in part on credit rating
assessment of our company,
and will look more favourably
on our company because we
have an audit.
11 Auditors identify weaknesses
manufacturing records and
provide suggestions for
improvements
12 Internal control ensures Lower
risk, higher possible return

Net Profit

13 Net Profit ratings may be

affected by not having an audit

14 standard costing is being

applied and variances are
regularly monitored

15 Decision to improve on
strategies to maximize profit
are available in the course of
internal auditing
16 Accountability and supervision
of internal auditors work will
help to improve Net Profit