Internal Auditing Educational Regulatory Institutions State Universal Basic Education Board

This research investigates how internal auditing systems influence the performance of educational regulatory institutions, with specific reference to the State Universal Basic Education Board (SUBEB) in Oredo Local Government Area, Edo State, Nigeria. A survey research design was adopted, and structured questionnaires were distributed to audit staff within SUBEB. The study population comprised all employees of SUBEB across Edo State, while the sample size consisted of 67 staff members from the bursary department’s accounting section in Oredo. Findings revealed a strong and significant correlation between internal audit planning and the faithful presentation of financial statements. Results also showed that internal auditing practices positively influence both the timeliness and the relevance of financial audit reports. Specifically, 60.3% of respondents affirmed that internal auditing enhances the relevance of financial audit reports, 29.6% were undecided, while 10.1% disagreed. The study concludes that effective internal auditing systems enhance the credibility and reliability of financial statements produced by educational regulatory bodies. It recommends that management should ensure bursary units comply with statutory requirements, organizational policies, and established standards, with periodic audits serving as enforcement mechanisms.