Emerging Technologies and Internal Auditing Process In Universities In Nigeria

Many businesses and professions have already introduced technological advancements into their work to boost productivity and efficiency; thus, the auditing profession has not been left out of this drive. In order to successfully respond to new risks and possibilities driven by the digital revolution, internal auditors need to leverage these emerging technologies in order to achieve efficiency, effectiveness, and value for money. Thus, this study examined the relationship between emerging technologies and internal auditing process in universities in Nigeria. To achieve the objectives of the study, Using the census sampling technique, the study population of 124 members of the Conference of Heads of Internal Audit Departments/Units in Nigerian Universities (CHIADINU) made up the sample for the study. This study adopted the multivariate regression technique which aimed to establish a connection between many different factors. It specifies the relationship between the two sets of data, the independent and dependent ones. SMARTPLS version 3.0 was used in the data analysis. The results revealed that smart device technologies do not have a significant effect (t=1.666; p= 0,0096) on internal audit process. However, cloud computing had a significant effect (t=7.267; p=0,000) internal audit process. Emerging technology tools improve internal auditing professionals' efficiency, effectiveness, and value for money by enabling the collection of appropriate audit evidence and analysis of procedures and strategies. Thus, internal auditors must identify and utilize these tools to properly carry out internal audit functions in their organizations. In addition, organizations must invest in these technologies and also support relevant training of internal auditors.