INTERNAL AUDIT INDEPENDENCE AND FINANCIAL ACCOUNTABILITY IN THE FEDERAL RADIO CORPORATION OF NIGERIA

This study investigates the effect of internal audit independence on financial accountability in the Federal Radio Corporation of Nigeria, against the backdrop of persistent concerns over financial mismanagement in public sector institutions. Adopting a survey research design, primary data were collected from 50 purposively selected staff across Internal Audit, Accounts, Finance, and Administration departments, with 45 valid responses analyzed (90% response rate). Data were measured using a five-point Likert scale and analyzed through descriptive statistics and multiple regression using SPSS. The findings reveal that internal audit independence has a positive and statistically significant effect on financial accountability, explaining 64.2% of its variation (R² = 0.642, p < 0.05). Specifically, independence enhances transparency in financial reporting, strengthens internal control systems, and ensures compliance with financial regulations. The study concludes that internal audit independence is a critical driver of financial accountability in public sector organizations and recommends strengthening auditor autonomy, ensuring adequate resources, promoting continuous professional development, and enforcing audit recommendations. The study contributes empirically to the literature by establishing internal audit independence as a key determinant of accountability within a federal government parastatal in Nigeria.