Evaluation of internal audit effectiveness on Lebanese banks

Abstract

The effectiveness of the internal audit is an attractive subject for contemporary economic studies due to its importance in banks. Internal audit fulfills a crucial role in an economy that is largely dependent on self-produced information. Indeed, internal audit ensures security of transactions within a bank and preserves its credibility for stakeholders. This article will discuss factors contributing to the evaluation of the effectiveness of internal audit in the specific context of Lebanese banks. Through quantitative analysis, the effectiveness of internal audit wasstudied based on the objectivity and competency of the internal auditor, planning the audit mission and interaction between the internal auditor and the external auditor. The design of this study appearedin the conceptual framework and empirical study on internal audit and its effectiveness in order to evoke elements contributing to the evaluation of internal audit effectiveness in a Lebanese bank.