Impact of Internal Auditing on the Performance in Government Parastatals (a Case Study of Nigeria Prison Service Ilorin)

Internal auditing is a vital component of public financial management, playing a crucial role in evaluating and improving internal control processes. It provides independent assessments to senior management, enhancing accountability and value for money in government operations. Internal audits can be conducted at various government levels, assessing the effectiveness and efficiency of internal controls, risk management, and governance processes. By identifying weaknesses and suggesting improvements, internal auditors strengthen the overall control environment, ensuring efficient resource utilization. Public sector internal audit focuses on evaluating budgeting, financial, and accounting information quality and assessing objective achievement. In contrast, Supreme Audit Institutions (SAIs) perform external audits, evaluating financial management effectiveness, compliance with laws, and public resource stewardship.