Effects of External Audit on Financial Accountability in Higher Institutions in Akwa Ibom State

Financial accountability is critical in higher institutions due to the significant funds they manage from government subventions, tuition fees, and internally generated revenues. This study examined the effects of external audit on financial accountability in higher institutions in Akwa Ibom State. Using a descriptive survey design, data were collected from 117 finance officers, audit committee members, and external auditors across universities, polytechnics, and colleges of education, employing census sampling. Structured questionnaires and interviews were used, and data were analyzed using descriptive statistics and regression analysis at 0.05 significance level. Findings revealed that external audit significantly improves transparency, compliance with financial regulations, detection and prevention of irregularities, and implementation of audit recommendations. The study concludes that external audits are vital for enhancing financial accountability, and timely implementation of recommendations is essential. Recommendations include strengthening audit implementation, enhancing auditor independence, and providing capacity building for finance personnel.

External Audit, Financial Accountability, Higher Institutions, Transparency, Compliance, Internal Control Akwa Ibom State

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