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Internal Audit QualityA Study at Muscat

Gases Company SAOG

Every business enterprise would gain various
advantages from the functions when effectively being
undertaken by internal auditing team and one such
advantage would be that of business enterprise being
able to gain the most valued factors that would
govern the business operations of a business
enterprise by means of Internal audit quality.
Further, the internal audit quality has a great impact
upon the outcome of the internal audit related
functions as well as it also contributes in providing
necessary information to be utilized during external
auditing process and thus influences its outcome too.

Statement of the Problem:

Muscat Gases SAOG need to focus mainly
upon their risk management strategies in
order to survive in such business market
and thus it can be seen that the enterprise
maintains a high level of internal audit
division comprising of large team members
as well as the enterprise also invests its
business time and resources in terms of
recruiting, developing the internal audit
team within the enterprise.

Objective of the Study:

The main purpose of the concerned research
study can be seen to carry out evaluation of the
internal audit quality of Muscat Gases SAOG and
thus by performing such research study would
provide information in terms of understanding the
important factors that has an impact upon the
effective functioning of the internal audit process.
Moreover, the concerned research study would
also provide information in relation to internal
audit quality of business enterprises within Oman
which can be utilized by other researchers while
conducting similar research studies.

Research Objectives
To highlight the critical factors that creates
an impact upon internal audit quality with
respect to business enterprises.
To evaluate the level being maintained by
Muscat Gases SAOG with respect to its
internal audit quality.
To present various recommendations that
would enable Muscat Gases SAOG to
improve their internal audit quality.

Research Hypothesis:
HO: The internal audit quality
conducted at Muscat Gases SAOG
can be seen to be poor in nature as
compared to other similar business
enterprises within Sultanate of
H1: The internal audit quality
conducted at Muscat Gases SAOG
can be referred as high level when
compared to other similar enterprise.

II- Literature Review

2.1 Concepts and Key Terms
2.2 Need & significance of
internal audit quality:
2.3 Previous research study on
internal audit quality


Research Design and Approach:
Primary data collection: Primary data
Secondary data collection: related
journals, articles of audit books as well as
websites of Muscat Gases
Participants and Sample Size:a sample
size of 85 participants that were from
managerial positions at Muscat Gases

regarding the total responses on matters of internal audit personnel
possessing the most suitable mix of academics and professional
qualifications as part of doing their jobs and duties.
At Muscat Gases SAOG, regarding the emphasis placed on
continuing educational and professional development for audit
personnel at all levels.
internal audit department is adequately staffed and resource can
have a measurable impact on whether or not it would be able to
effectively execute internal audits.
Internal Audit is essentially dependent upon the amount and extent
to which it is covered across organizational functions or
departments so as to collectively address all corporate governance
in this aspects in the entire entity.
At Muscat Gases SAOG, the extent to which best practices are
implemented within the scope of internal audit functioning also will
influence the extent to which internal audit is successful or effective

Firstly, it has been recommended that Muscat
Gases SAOG need to ensure that the team
members of the internal audit division has their
roles and responsibilities clearly defined by the
enterprise and thus each of the members of the
division has manuals of the respective authorities
in terms of functioning within the division.
Secondly, it can be also recommended that Muscat
Gases SAOG widens their scope of operations in
order to increase the risk management practices
with respect to the operations conducted by Muscat
Gases SAOG

it can be also recommended that Muscat Gases

SAOG would need to also ensure that the internal
audit operations were completed within stipulated
time period and thus reports were submitted to the
concerned authority in a faster manner which in
turn would enable the users to make decisions for
Muscat Gases SAOG in an effective manner.
it can be recommended that Muscat Gases SAOG
shows more efforts in terms of incorporating more
number of best practices that would enable the
internal audit division to perform their functions in
an improved manner with higher quality

In conclusion it can also be mentioned
that based upon this research study, the
hypothesis which has been confirmed
with respect to Muscat Gases SAOG would
be that the internal audit quality at
Muscat Gases SAOG can be referred to be
of higher level even though there exists
certain weaknesses which can be
improved by certain recommendations
provided in this research study