INTERNAL AUDIT AND CORPORATE GOVERNANCE OF BUSINESS ORGANIZATIONS (A CASE OF BOND CHEMICALS, AWE, OYO STATE)

This study examined internal audit and corporate governance of business organizations.The descriptive survey design was adopted, and the opinions of 120 management staff of the internal audit and corporate governance unit of Bond Chemicals, Awe, Oyo State, were sampled through a well-structured questionnaire. A total of 100 questionnaires were filled out and returned. The study adopted correlation analysis as well as multiple regression analysis to analyze the data, and the results provided insights into the effectiveness of internal audit systems, corporate governance frameworks, integration of audit findings, policy implementation, and their impact on organizational performance. The study therefore recommended that organizations should invest in the capacity development of their internal audit departments, firms should adopt globally accepted governance frameworks that emphasize transparency, accountability, and ethical practices, audit outcomes should not be treated as mere formalities but should be actively used to inform corporate governance policies and practices, organizations should establish formal strategies for improving audit and governance systems, and management should view internal audit and governance not as regulatory burdens but as performance enablers that contribute to operational efficiency, stakeholder trust, and long-term sustainability.