The Effectiveness of Internal Audit Control

This piece of writing is about the proposal of the research where the topic is evaluation of the effectiveness of internal audit control and its impact on profits in UAE banking sector, case of ADIB. The proposal will give brief information on the future target of the research and on the basis of this proposal future research will be conducted.

Banking sector of UAE drives the economy of the country as it focuses on the utilization of the financial resources and also help in provision of the financing for the support of the economy of the country. The banking sector of the UAE is diversified. The banking sector has more than 51 operational banks out of which 23 are domestic banks and 28 are foreign banks (Al-Tamimi, Lafi, & Uddin, 2016). The banking sector of the UAE is well established because of the huge investments of the government and the foreign businesses in the market also the liquidity position of the sector is good despite the reduction in the oil prices (Mehta & Bhavani, 2017). Talking in context of Abu Dhabi, the chief executive is Abhijit Choudhry who has talked about the rough expansion strategy in the Abu Dhabi, whose sole purpose is to improve the economy of the emirates and not depend on the oil driven economy.

Abu Dhabi Islamic banking is Islamic bank which was formed in the year 1997 in Abu Dhabi, the company was made in with the help of public joint stock under the order number 9 given by government (Iren & Tee, 2018). The commercial operations of the bank were started in the year 1998 and hence the main focus of the bank was to carry out sharia principles and apply them to operations. The paid up capital of bank is divided into one hundred million share where the founder have 29% of share and 71% of share are with the shareholders (Siraj, & Pillai, 2012).

This CLO will help the organization to look into the internal audit process of the organization through application of responsibility centers and make sure the purpose and effectiveness is served right, this will show the evaluate the performance of the organization and hence impact on profit will be cleared.

This will help to analyze the structure policy of the organization which will further help to analyses the issue with the audit of the organization and will help the organization to reflect on the need of the time and on the audit process and also to deal with them in a better way and get better share of profit and also the value of the audit process will be analyzed.

The targeted research will be quantitative where the objective of the research is to build the relationship between the variables. The study will follow the positivist paradigm and hence the use of scientific method would be done. The target population for this research is employee of ABID since there are large number of employee so the sample of 150 people will be drawn from the total population.

Talking about the data collection, since the method is quantitative so survey method will be used where the questionnaire will be derived and 5 Point Likert scale will be used.so the primary method of data collection will be used. The sampling method usually depends on the sampling frame which is known in this scenario so the simple random sampling will be used. For the analysis, Microsoft Excel will be used and tables and graphs will be generated