In e na ional Jou nal o Cu en Science Resea ch and Re iew
ISSN: 2581-8341
Volume 08 Issue 11 No embe 2025
DOI: 10.47191/ijcs /V8-i11-23, Impac Fac o : 8.048
IJCSRR @ 2025
www.ijcs .o g
5664 *Co esponding Au ho : TIONA WAMBA Joseph He man Volume 08 Issue 11 No embe 2025
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A S udy o he Financial Sus ainabili y o Came oonian SMEs: The Role o
In e nal Audi
ABOSSOLO Alain Camille1, TIONA WAMBA Joseph He man2
1Senio Lec u e , Facul y o Economics and Managemen Sciences, Uni e si y o Ngaoundé é, Came oon
2Senio Lec u e , MA-CAMES, Lasallian Labo a o y o Managemen Science Enginee ing (LLMSE), Lasalle Technical Ins i u e
o Highe Educa ion, Douala-Came oon
ABSTRACT: This esea ch a icle mainly aims o analyse he in luence o in e nal audi on he inancial sus ainabili y o SMEs in
Came oon. Speci ically, i aims o analyse he na u e o he e ec o in e nal con ol sys em on he g ow h o he company's
wo k o ce on one hand, and on he o he and o analyse he na u e o he e ec o isk mapping on changes in he company's ne
p o i in Came oon. Using quan i a i e analysis, in pa icula analysis o a iance and linea eg ession, we ind ha in e nal audi
signi ican ly in luences he sus ainabili y o Came oonian SMEs. I is he e o e ecommended ha SMEs, no ma e hei size and
expe ience, should pu in place ough in e nal audi unc ions o assu e sus ainable pe o mance.
KEY WORDS: Financial sus ainabili y, In e nal Audi , Sus ainable pe o mance, SMEs.
INTRODUCTION
O e he pas decade, in e na ional companies ha e collapsed. In esponse o he inancial scandals o he 2000s, some p i a e sec o
companies ha e adop ed measu es o con ol and imp o e he e iciency o hei ac i i ies. As a esul , company manage s a e
equi ed o s eng hen con ol o e he in e nal s uc u e and unc ioning o hei companies in o de o make hem as secu e as
possible. In his ega d, acco ding o El Hilali and Benlakoui i (2019), companies a e now aced wi h o ganisa ional, inancial and
in o ma ion eliabili y issues linked o he globalisa ion o economies, which is gi ing ise o new isks. Thus, o ensu e ha con ol
mechanisms ul il hei oles pe ec ly, o ganisa ions equip hemsel es wi h a ‘ ool’ o e alua ing and moni o ing in e nal con ol:
in e nal audi ing.
When i comes o sus ainabili y, weal h c ea ion is now a p e equisi e o ensu ing he long- e m iabili y o a company's ac i i ies.
I is based on compe i i e ad an age o economic en (Po e , 1993). Fo Ben hami and Che kaoui (2018), he impo ance o
liquidi y can be a de e mining ac o in inancial iabili y. Jegou el (2008) de ines inancial iabili y as an en i y's abili y o co e
i s expenses wi h he p oceeds om i s ac i i ies and o gene a e su icien ma gins o build up ese es ha can be used in he e en
o un o eseen ci cums ances o di icul ies. Indeed, i seems ha , beyond he a ious schools o hough , sus ainabili y symbolises
he e y pu pose o managemen , including long- e m inancial and comme cial pe o mance, o ganisa ional and s a egic choices,
in es men s a egies (Mignon, 2009), e c. In 2008, he Came oonian go e nmen launched a e o m ha educed he ime equi ed
o se up a business om se e al mon hs o 38 days. This ini ia i e had he me i o inc easing he numbe o businesses c ea ed
be ween 2010 and 2015 by a ac o o 28. Howe e , 72% o hese businesses no longe exis . I he e o e appea s ha he main cause
o SME ailu e s ems om he company's o ganisa ional and inancial policy, which comp omises he sound managemen o he
business and, consequen ly, i s iabili y.
The e a e many easons o his p ema u e bank up cy. As no ed by Anene (2014), some manu ac u ing companies ha e had
eno mous p oblems su i ing due o poo managemen o hei wo king capi al. This has esul ed in inc eased inancing cos s and
in e es a es paid o lende s. Fu he mo e, du ing he ini ial explo a o y su eys conduc ed in a numbe o small Came oonian
companies, we no iced a se ies o mal unc ions in he in e nal con ol sys em. While i is ue ha hese s uc u es a e s a ed by
gene ally quali ied pe sonnel, his does no p e en job bounda ies om being poo ly de ined o unde ined, b idges om being
es ablished, and he low o in o ma ion om being some imes impe ec and asymme ical. Disc epancies we e o en ound
be ween he objec i es se and he esul s achie ed. Based on hese and many o he indings, we decided o ocus on he opic
en i led: “S udy o he inancial sus ainabili y o Came oonian SMEs: he ole o in e nal audi ing”.
In e na ional Jou nal o Cu en Science Resea ch and Re iew
ISSN: 2581-8341
Volume 08 Issue 11 No embe 2025
DOI: 10.47191/ijcs /V8-i11-23, Impac Fac o : 8.048
IJCSRR @ 2025
www.ijcs .o g
5665 *Co esponding Au ho : TIONA WAMBA Joseph He man Volume 08 Issue 11 No embe 2025
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Roe (2005) asse s ha he in e nal audi unc ion has a majo impac on inancial pe o mance. A s udy conduc ed by o he au ho s
e ealed ha he exis ence o an in e nal audi unc ion in o ganisa ions leads o imp o ed pe o mance and acili a es he educ ion
o calami ies such as inancial aud (Muchi i and Jagongo, 2017). Acco ding o Dayan (1999), in e nal audi ing includes all asks
aimed a imp o ing and con olling ope a ions wi hin he company. Sus ainabili y analysis he e o e aims o assess he company's
pe o mance in a sus ainable manne . Ha ing a sus ainable business al eady sugges s ha he company is gene a ing p o i s and
c ea ing added alue h ough i s ac i i ies.
As seen abo e, he issue o he impac o in e nal audi ing on he inancial sus ainabili y o companies has al eady been he subjec
o some discussion, bu he pa icula i y o his wo k is ha i adap s o a ela i ely complex amewo k, ha o small and medium-
sized en e p ises, which ha e li le o no in e es in in e nal audi ing issues. We will he e o e a emp o answe he ollowing key
ques ion: does in e nal audi ing os e he inancial sus ainabili y o Came oonian SMEs?
This cen al ques ion gi es ise o he ollowing speci ic ques ions:
- Wha is he na u e o he e ec o he in e nal con ol sys em on he g ow h o he company's wo k o ce?
- Wha is he na u e o he e ec o isk mapping on he e olu ion o he company's ne income?
Fo some au ho s, in e nal audi ing has an e alua i e ole. I s ole is o e alua e he in e nal con ol sys em implemen ed ups eam,
wi h he aim o con olling isks by assessing he isk p ocess. Acco ding o Mel ille (2003), in he as majo i y o cases, in e nal
audi de o es mos o i s ac i i ies o analyzing exis ing isks and de iciencies wi h he aim o p o iding ad ice, making
ecommenda ions, implemen ing p ocedu es o p oposing new s a egies.
Thus, o add ess ou main conce n, ou main hypo hesis is as ollows: In e nal audi ing has a signi ican in luence on he
sus ainabili y o Came oonian SMEs.
Adop ing a me hodological app oach and a s a egy ocused on disco e ing a ce ain eali y, we will a emp o es ablish he alidi y
and eliabili y o empi ical esul s h oughou he empi ical s age o his esea ch a icle. To his end, we ha e op ed o a
hypo he ical-deduc i e app oach, which consis s o mo ing om he gene al o he speci ic. In o de o achie e his wi h g ea e
objec i i y, we will conduc a documen a y e iew ha will enable us o de elop he heo e ical phase o ou wo k. We will he e o e
ca y ou a quan i a i e s udy using a ques ionnai e ha we will dis ibu e o he manage s o ce ain Came oonian SMEs in he ci y
o Douala in o de o asce ain he ac s. The da a ob ained will be analyzed using SPSS .20 so wa e.
This a icle is buil on ou pa s. In he i s pa , which is a e iew o he li e a u e, we i s discuss he no ions o in e nal audi
and inancial sus ainabili y h ough a concep ual analysis, hen we s udy he heo e ical ela ionship be ween he wo concep s. In
he second pa , we discuss he app oach adop ed and he sampling plan. The hi d pa consis s o p esen ing he esul s, which we
hen discuss in he ou h pa .
1. LITTERATURE REVIEW
1.1. No ions o in e nal audi and inancial sus ainabili y
1.1.1. O e iew o in e nal audi
Today, SMEs mus ensu e ha hey ha e an in e nal audi unc ion wi hin hei s uc u e, which is a i al unc ion a he hea o
managemen , hence he need o ha e a clea unde s anding o i . Washe b ook (1978) de ined in e nal audi ing as an audi pe o med
by specialised pe sonnel wi hin he audi ed o ganisa ion, ocusing on he ou ine con ol o accoun ing ansac ions on a daily basis,
wi h he aim o quickly iden i ying i egula i ies, he eby making aud mo e di icul due o he cons an na u e o he con ol. This
de ini ion, which is one o he adi ional de ini ions o in e nal audi ing, is no comp ehensi e enough in ha i is limi ed o
accoun ing ansac ions and, as such, does no e lec he ull scope o in e nal audi ing. Howe e , mode n in e nal audi ing now
goes beyond he examina ion o ansac ions and is designed o adap o he expanding ole and esponsibili ies o he p o ession.
The IIA de ines in e nal audi ing as an ‘independen , objec i e assu ance and consul ing ac i i y designed o add alue and imp o e
an o ganisa ion's ope a ions. I helps an o ganisa ion achie e i s objec i es by p o iding a sys ema ic, disciplined app oach o
e alua ing and imp o ing he e ec i eness o isk managemen , con ol and go e nance p ocesses.’ Acco ding o Tuo ila (2021),
he pu pose o in e nal audi ing is o moni o a company's in e nal p ac ices, including i s go e nance and accoun ing p ocesses. I
ensu es compliance wi h laws and egula ions and con ibu es o he accu acy and imeliness o inancial epo ing and da a
collec ion. In e nal audi ing also p o ides managemen wi h he ools necessa y o achie e ope a ional e iciency by iden i ying
In e na ional Jou nal o Cu en Science Resea ch and Re iew
ISSN: 2581-8341
Volume 08 Issue 11 No embe 2025
DOI: 10.47191/ijcs /V8-i11-23, Impac Fac o : 8.048
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5666 *Co esponding Au ho : TIONA WAMBA Joseph He man Volume 08 Issue 11 No embe 2025
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p oblems and co ec ing impe ec ions. This de ini ion is b oad enough o co e no only he accoun ing and epo ing o an
o ganisa ion's ope a ional pe o mance, bu also i s go e nance.
Se e al heo ies a e gene ally in oked in he con ex o in e nal audi ing.
In a amous a icle se ing ou he ounda ions o agency heo y, Mickael Jensen and William Meckling (1976) sough o demons a e
he e iciency o o ganisa ional o ms. They iewed he company as a ne wo k o con ac s be ween he a ious s akeholde s in he
o ganisa ion. They poin ed ou ha he owne s and manage s o an o ganisa ion may ha e di e ing opinions abou wha is in he
bes in e es s o he o ganisa ion. The objec i e o agency heo y is o de e mine he op imal con ac be ween he p incipal and he
agen . This heo y is based on he agency ela ionship. Pe haps he bes -known o m o agency ela ionship is ha be ween an
employe and an employee. The p incipal wan s o maximise p o i s while minimising he agen 's ewa d. The agen , o his pa ,
also wan s o maximise his bene i s.
Consequen ly, po en ial con lic s o in e es lead o signi ican asymme y be ween sha eholde s (p incipals) and manage s (agen s).
In o he wo ds, a leas one o he pa ne s has p i ileged in o ma ion ha p e en s he o he om accu a ely obse ing hei
beha iou , which leads o mal unc ions (Wi z P., 2019) and hus gene a es cos s. This is p ecisely whe e in e nal audi ing comes
in as he main mechanism o managing con lic s and educing agency cos s, h ough he con ol and moni o ing o he beha iou
o he agen , who is mo e inclined o pass on agency cos s o he p incipal and no o comply wi h all policies and p ocedu es.
Based on he wo k o Coase (1937) and Williamson (1975), ansac ion cos heo is s, o whom he exis ence o he i m is due o
he lack o ma ke luidi y, pu o wa d he idea ha ‘unlike he ma ke , he i m appea s o be he mode o o ganisa ion ha allows
o sa ings in ansac ion cos s’. This is because ecou se o he ma ke en ails ope a ing cos s o he ope a o , which Ronald Coase
e e s o as ansac ion cos s. As a esul , ‘wha dis inguishes companies om ma ke s is hei abili y o in e nalise ce ain
ansac ions and ca y hem ou a a lowe cos han i hey had o ake place on he ma ke s’ (Ebondo and Pigé, 2002, p. 52). Fo
hese easons, he manage s o la ge companies i s , and hen SMEs/SMIs, ha e been led o in e nalise mos o hei s a u o y audi
wo k by c ea ing in e nal audi depa men s.
In e nal audi ing has eme ged as an ins i u ional amewo k ha con ibu es o cos educ ion and pe o mance op imisa ion (Ebondo
Wa Mandzila and Zeghal, 2009). As Williamson (1975) a gues, in e nal audi ing p o ides manage s wi h impo an in o ma ion
abou cos sa ings. No only is i impo an o p o ide inancial and accoun ing in o ma ion, bu in e nal audi ing also p o ides
ope a ional in o ma ion o con ol bodies. T ansac ion cos heo y p o ides a concep ual amewo k o in e nal audi ing by
p o iding c ucial da a o execu i e manage s wi hin he o ganisa ion (Sp aakman, 1997).
1.1.2. O e iew o inancial sus ainabili y
Sus ainabili y, is summa ised by Djou sa Wamba and Hikke o a (2014, p. 112) as: ‘a c oss-cu ing heme ha allows us o e ine
ou hinking abou he long- e m success, pe o mance and p o i abili y o businesses’. I is he e o e a combina ion o se e al
ac o s ha enable us o judge he long- e m iabili y o a business.
Indeed, i seems ha beyond his plu ali y o dimensions acco ding o IRAM, inancial sus ainabili y is he abili y o a sys em o
ensu e i s ope a ional au onomy by ha ing he necessa y esou ces a i s disposal. Fo Mignon 2000, sus ainabili y symbolises he
e y pu pose o managing an o ganisa ion. I is in his ein ha Mo in e al. (1994, p. 38) a gue ha ‘ he only objec i e pu sued by
an o ganisa ion is i s sus ainabili y, and he e a e ce ain cha ac e is ics ha a e supposed o dis inguish e ec i e o high-pe o ming
o ganisa ions om hose ha a e less so’, hence he need o highligh ce ain elemen s ha allow an o ganisa ion o be conside ed
sus ainable. The sus ainabili y indica o is a speci ic measu e o sys em pe o mance, which is moni o ed o e ime ia he su i al
sys em. Sus ainabili y indica o s mus e lec he objec i es ela ed o he sus ainabili y o an SME.
We he e o e conside sus ainable pe o mance indica o s o be indica o s o sus ainabili y. S udying sus ainable pe o mance
in ol es analysing pe o mance measu emen indica o s o e a numbe o yea s. Assuming ha sus ainable companies a e hose
ha ha e su i ed hei i s i e yea s o exis ence, Tchagang E. (2007) a gues ha ne p o i and e enue g ow h a e he mos
impo an objec i e c i e ia o measu ing a company's success. F ank e al. (1991) each he same conclusions bu add wo k o ce
g ow h o he lis . Fu he mo e, Ma niesse S. (2000) shows ha he size and age o he i m, as well as i s p oduc ion cha ac e is ics
(single o mul iple loca ions), explain he g ow h o su i ing companies and he mo ali y a e o o he s. Hence he need o s udy
some heo ies ela ed o sus ainable pe o mance.
Resou ce heo y was de eloped by Ba ney (1991) wi hin a managemen amewo k used o de e mine he s a egic esou ces likely
o p o ide a company wi h a compa a i e ad an age. He ocuses his a en ion on an o ganisa ion's in e nal esou ces as a means o
In e na ional Jou nal o Cu en Science Resea ch and Re iew
ISSN: 2581-8341
Volume 08 Issue 11 No embe 2025
DOI: 10.47191/ijcs /V8-i11-23, Impac Fac o : 8.048
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o ganising and ob aining a compe i i e ad an age. Fu he mo e, he a gues ha o esou ces o e ain hei po en ial as sou ces o
sus ainable compe i i e ad an age, hey mus mee ou c i e ia ha cons i u e empi ical indica o s o a esou ce's he e ogenei y and
immobili y. In pa icula , he esou ce mus be alue-c ea ing, i mus be a e in i sel o in he way i is exploi ed, and when i is
no a ailable o compe i o s, i mus be di icul o imi a e. Finally, he las c i e ion is ha his esou ce mus no be easily
subs i u able, which e e s o he no ion o speci ic asse s. Resou ce-based heo y he e o e shows ha o ganisa ions mus de elop
unique and speci ic co e compe encies ha will enable hem o ou pe o m hei compe i o s by doing hings di e en ly h ough
skills ha can con ibu e o building a las ing compe i i e ad an age. Long- e m capaci y managemen can op imize he exploi a ion
and de elopmen o esou ces, he eby ensu ing he o ganiza ion’s sus ainabili y.
As an ‘o ganisa ional heo y’, s akeholde heo y con ibu es o he ounda ion o a ela ional model o o ganisa ion. Acco ding o
Me cie (1999), s akeholde s a e ‘all agen s o whom he de elopmen and good heal h o he company a e impo an issues’.
F eeman (1984) de ines hem as ‘any g oup o indi idual ha can a ec o be a ec ed by he achie emen o he company's
objec i es’. E hical conside a ions a e a he oo o de elopmen s in s akeholde heo y, conside a ions ha ha e been used o
de elop i s no ma i e aspec . Fo Donaldson & P es on (1995), s akeholde s a e de ined by hei legi ima e in e es in he
o ganisa ion. S akeholde s he e o e possess he esou ces necessa y o he o ganisa ion o ope a e p ope ly and sus ainably, and
whose sound managemen is expec ed o imp o e i s long- e m pe o mance.
1.2. Theo e ical in luence o in e nal audi on co po a e inancial sus ainabili y
1.2.1. Con ibu ion o he in e nal con ol sys em o he g ow h in he numbe o employees.
Cu en o ganisa ional ends a e o cing mos companies o implemen e ec i e in e nal con ol sys ems ha will enable hem o
achie e hei objec i es and ensu e sus ainable g ow h.
- The con ol en i onmen as he ounda ion o sus ainable wo k o ce g ow h
The COSO (Commi ee o Sponso ing O ganisa ions o he T eadway Commission) amewo k de ines in e nal con ol as a p ocess
implemen ed by a company's managemen and s a o p o ide easonable assu ance ha he company's objec i es will be achie ed.
An e ec i e in e nal con ol sys em can he e o e be a signi ican compe i i e ad an age o he company in which i ope a es.
Se e al companies ha e he e o e unde s ood ha i is no enough o ha e an in e nal con ol sys em in place; i mus also be
e ec i e in o de o ul il i s ole in a sus ainable manne .
As a esul , he in e nal con ol en i onmen is he e y ounda ion on which he en i e in e nal con ol sys em is de eloped and
implemen ed, p o iding discipline and s uc u e (Ta ia a, 2010). On he one hand, his in ol es b inging oge he he in e nal
capabili ies and esou ces ha will c ea e he condi ions conduci e o a ai assessmen o isks. On he o he hand, i e e s o he
u gen need o e hics, s a egy and o ganisa ion ha apply he i ues expec ed o he sys em i sel (Rena d, 2010).
- Employee in ol emen and pa icipa ion as ac o s in con inuous pe o mance imp o emen
Fo Dunkelbe g and Coope (1982), employmen g ow h is a good indica o o sus ainable business pe o mance. As a esul , ce ain
s udies, pa icula ly hose ela ed o pa icipa o y budge ing, ha e add essed he concep o in ol emen and pa icipa ion as ac o s
in he success o any business ha combines human esou ces a all le els (Abanda & Peyou, 2022); (Sambou e al., 2003).
Fi s , pa icipa ion allows subo dina es o ecei e in o ma ion and explana ions abou hei line manage 's expec a ions, how
esou ces a e alloca ed, and he e y pu pose o he objec i es. This g ea e unde s anding educes he unce ain y and ambigui y
ha indi iduals may ace and allows hem o be e ocus hei e o s on he objec i e o be achie ed (Chong & Tak-Wing, 2003);
(Maiga, 2005) & (Chong & Johnson, 2007). Secondly, pa icipa ion also allows indi iduals o in luence objec i es. Thus, Maiga
(2005) conside s ha pa icipa ion in ol es no only a dimension o communica ion, bu also a dimension o in luencing objec i es
and he e o e e ec i eness. Th ough pa icipa ion, indi iduals can in luence he objec i es hey will be asked o achie e, making
hem mo e ealis ic and gi ing hem a g ea e sense o con ol o e hese objec i es and, consequen ly, a g ea e sense o sa is ac ion
a ha ing been in ol ed and aken in o conside a ion. Pa icipa ing in and con ibu ing o he se ing o objec i es is ewa ding o
indi iduals ega dless o hei le el o ac ion, in acco dance wi h he sel -assessmen model (IFACI, 2005). Indi iduals a e hus
mo e likely o accep , in e nalise and ake owne ship o objec i es, he eby con ibu ing signi ican ly o he iabili y o he company.
In ligh o he abo e, we ha e o mula ed he i s hypo hesis as ollows:
H1: The in e nal con ol sys em has a signi ican impac on he g ow h o he wo k o ce in Came oonian SMEs.
In e na ional Jou nal o Cu en Science Resea ch and Re iew
ISSN: 2581-8341
Volume 08 Issue 11 No embe 2025
DOI: 10.47191/ijcs /V8-i11-23, Impac Fac o : 8.048
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5668 *Co esponding Au ho : TIONA WAMBA Joseph He man Volume 08 Issue 11 No embe 2025
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1.2.2. Con ibu ion o isk mapping o changes in ne income
Acco ding o S anda d & Poo 's (2008), manage ial ision mus inco po a e he mos signi ican isks o he company, es ima e
hei p obabili y o occu ence and hei po en ial e ec s.
- Risk managemen and o e all pe o mance
Risk managemen is conside ed o imp o e business pe o mance because i in o ms decision-making in si ua ions o unce ain y
(Fa ell and Gallaghe , 2015; Flo io and Leoni, 2017). As S -Pie e (2016) shows, collabo a ion wi h ex e nal s akeholde s,
pa icula ly cus ome s, can signi ican ly educe his unce ain y. Such collabo a ion is mos common wi h cus ome s, as hey a e
he main sou ce o e enue, ollowed closely by supplie s, who mus mee he needs o businesses o ensu e imely deli e y and he
equi ed quali y.
By iden i ying po en ial isks ha could a ec he company, i can ake s eps o educe o elimina e hem, which can educe losses
and unexpec ed cos s. This can con ibu e o g ow h in he company's e enue and ne income, inc ease in es o and cus ome
con idence by demons a ing i s abili y o manage p oac i ely. Sales g ow h is conside ed he mos ele an measu e o g ow h due
o i s simplici y, he ac ha i can be used by all ypes o businesses, and i s ela i e insensi i i y o capi al in ensi y and he deg ee
o business in eg a ion (Delma e al 2003).
- Maximisa ion o co po a e alue
A isk hedging policy may be implemen ed wi h he in en ion o inc easing he alue o he company. In his case, hedging is
conside ed a sys em ha p o ec s he company's in e es s and enables i o sa e on axes, educe bank up cy cos s, esol e he
p oblem o unde in es men and inc ease he company's liquidi y. By minimising ola ili y and s abilising u no e , inancial isk
managemen educes he e ec i e ax a e and ligh ens he company's ax bu den. In his sense, his p ac ice makes i possible, on
a e age, o inc ease ne p o i a e ax and hus c ea e alue o he company.
Simila ly, ola ili y can ha e a nega i e e ec on in es men because, on he one hand, i o ces he company o educe he amoun
o money spen on new p ojec s (i.e. no o seize ce ain p o i able in es men oppo uni ies) and, on he o he hand, o seek new
esou ces ex e nally in pe iods o low p o i abili y. Howe e , due o impe ec ions in he inancial ma ke ( ansac ion cos s,
in o ma ion asymme y, inc eased isk o bank up cy, e c.), ex e nal inancing is mo e expensi e han in e nal inancing. Acco ding
o Mian (1996), ex e nal inancing cos s include di ec cos s such as bond issuance ees and indi ec cos s such as deb agency cos s.
Risk managemen is he e o e a means o p o ec ing SMEs and educing hei ulne abili y (Reboud and Sé ille, 2016), imp o ing
no only he in e es s o inancial pa ne s, bu also hose o o he s akeholde s in he company (including cus ome s and employees),
he eby jus i ying he impo ance o adop ing isk managemen p ac ices o ensu e sus ainable pe o mance o he company.
F om he abo e, we can o mula e he second hypo hesis:
H2: Risk mapping has a conside able impac on he ne income o Came oonian SMEs
A e e iewing he elemen s ha helped us unde s and he concep s o in e nal audi and inancial sus ainabili y, we ha e shown
h ough he li e a u e he heo e ical ela ionship be ween he wo. I appea s ha an SME ha aspi es o g ow and become inancially
sus ainable o e ime mus ha e an in e nal audi unc ion ha will enable i o con ol i s ope a ions h ough he mechanisms used.
We will now p esen he me hodological app oach used.
2. MTHODOLOGICAL APPROACH AND SAMPLING TECHNIQUE
2.1. Me hodological app oach
The pu pose o he quan i a i e app oach is o p esen he quan i iable deg ee o a phenomenon in a speci ic space in ela ion o one
o mo e o he s ha may exis . Quan i a i e me hods aim o measu e a phenomenon and gene alise he esul s o he en i e popula ion
s udied. To do his, a la ge numbe o esponden s a e su eyed, bu he amoun o in o ma ion collec ed om each esponden is
ela i e. He e, he ques ionnai e is he means o da a collec ion. This app oach is he e o e desc ibed as hypo he ical-deduc i e. The
quan i a i e app oach s a s om hypo heses de i ed om heo y, p oceeds o obse a ions and gene alisa ions o cons uc heo ies,
and aims o quan i y and ep esen he esul s ob ained.
Thus, in e nal audi ing and inancial sus ainabili y a e no new concep s in managemen science. Gi en ha hey ha e al eady been
he subjec o se e al s udies in nume ous con ex s, he possibili y o adop ing a quali a i e app oach (used in he s udy o
phenomena ha do no lend hemsel es well o quan i a i e assessmen ) is uled ou om he ou se . The numbe o people
in e iewed is gene ally small, bu hey discuss he subjec a leng h du ing hei in e iews. I in ol es he esea che in he decision-
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making p ocess) is uled ou om he ou se . On he o he hand, s udies on he exis ence o a link be ween hese wo concep s yield
di e en esul s depending on he con ex in e ms o ime and space. Fu he mo e, he choice o he quan i a i e me hod is mainly
due o he ac ha i allows ela ionships be ween a iables o be es ablished and appea s o be he mos e ec i e way o es ing
ce ain esea ch hypo heses. This is pa icula ly he case when analysing he causal link ha may exis be ween wo o mo e
a iables.
2.2. Sampling echnique
The esea ch ques ion, objec i es, hypo heses and scope o he su ey o m he basis o de eloping he c i e ia ha he sample
componen s mus mee . Howe e , he e a e wo main g oups o me hods: andom (p obabilis ic) me hods and non- andom
(empi ical) me hods.
P obabilis ic me hods in ol e selec ing a sample om a popula ion based on he p inciple o andomisa ion ( andom selec ion) o
chance. They a e mo e complex, mo e expensi e and mo e ime-consuming. Non-p obabilis ic me hods, on he o he hand, a e
based on a guided choice o indi iduals and a y in complexi y (Giannelloni and Ve ne e, 2001). Unlike he o he ype o sampling,
whe e each uni has a chance o being selec ed, he e we assume ha he dis ibu ion o cha ac e is ics wi hin he popula ion is equal.
In ou esea ch, we a e only in e es ed in small and medium-sized companies wi h an in e nal audi depa men . Gi en he di icul y
we had in inding hem (as hey a e no easy o come by), we op ed o non-p obabili y o quo a sampling, speci ically he easoned
choice me hod, because in o de o assess he impac o in e nal audi ing on sus ainabili y, we needed o ‘ each’ SMEs wi h an audi
depa men .
To summa ise he ela ionship be ween in e nal audi and inancial sus ainabili y, we ha e de eloped he ollowing concep ual
esea ch model:
Figu e 1: Concep ual model
Sou ce : Re ue de la li é a u e
This model shows ha in e nal audi ing has an in luence on sus ainabili y, and o his o be he case, he wo hypo heses below
mus be con i med:
- The in e nal con ol sys em in luences he g ow h o he SME wo k o ce
- Risk mapping in luences he e olu ion o he SME's ne income
As he scope o ou s udy is SMEs, we will use an empi ical s udy o see i he e is a link be ween he wo concep s in o de o
con i m o e u e ou hypo heses.
3. RESEARCH RESULTS
This sec ion mainly aims o e i y he accu acy o ou esea ch hypo hesis, which s a es ha in e nal audi ing signi ican ly in luences
he sus ainabili y o Came oonian SMEs. To do his, we ha e di ided his hypo hesis in o wo sub-hypo heses.
In e nal con ol
sys ems
Risks
mapping
In e nal
Audi
Financial
sus ainabili y
G ow h in he
numbe o
employees
E olu ion o
ne income
SH1
HG
HS2
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3.1. Impac o he in e nal con ol sys em on pay oll g ow h
We ha e pu o wa d an ini ial hypo hesis which s a es ha : hanks o in e nal con ol mechanisms, in e nal audi ing con ibu es o
he g ow h o he wo k o ce in SMEs. To e i y his, we ca ied ou a simple linea eg ession analysis, he esul s o which a e
shown in he ables below:
Table 1: ANOVAa
Model
Su o squa es
D
Mean squa e
F
Sig.
1
Reg ession
14,529
1
14,529
24,383
,000b
S uden ’s
18,471
31
,596
To al
33,000
32
a. Dependen a iable: G ow h in he numbe o employees
b. Independen a iable: In e nal con ol sys em
Sou ce: SPSS .20
The able abo e shows ha he eg ession es we ha e chosen is s a is ically signi ican a he p ede ined isk h eshold o 5%. In
o he wo ds, he eg ession es is alid o he es o ou analysis.
Table 2: Coe icien sa
Model
Uns anda dized coe icien s
S anda dized
coe icien s
Sig.
B
S anda d e o
Be a
1
(Cons an )
5,840E-17
,134
,000
1,000
In e nal con ol sys em
,664
,134
,664
4,938
,000
a. Dependen a iable: G ow h in he numbe o employees
Sou ce : SPSS 20
The in o ma ion p o ided in he able abo e shows ha he s anda dised be a is 0.664 o he ela ionship be ween in e nal con ol
sys ems and SME pay oll g ow h. F om his pe spec i e, he eg ession equa ion we a i e a is as ollows: Y=0.664X+5.846E-
017+0.77192.
Wi h he equa ion Y=ax + b + e; whe e Y= pay oll g ow h, X= in e nal con ol sys em, a= be a, b= cons an ; e= es ima ion e o .
Fu he mo e, he asymp o ic signi icance h eshold o 0.000 p o es ha ou es is s a is ically signi ican a he asymp o ic h eshold
o 0.05. Consequen ly, he in e nal con ol sys em appea s o impac he g ow h o he SME wo k o ce. This inding is consis en
wi h he R-squa ed and adjus ed R-squa ed alues con ained in he able below:
Table 3: Summa y model
Mode
l
R
R-qua e
Adjus
ed R-
squa e
S anda d
e o
es ima e
Modi ie les S a is iques
Va ia ion
o R-
deux
Va ia io
n o F
D 1
D 2
Sig.
Va ia ion
de F
1
,664a
,440
,422
,77192
,440
24,383
1
31
,000
a. P édic o s: (Cons an s), In e nal con ol sys ems
Sou ce: SPSS .20
The able abo e shows a posi i e co ela ion coe icien ( = 0.664) coupled wi h a ela i ely high eg ession coe icien . In o he
wo ds, we e ain ou hypo hesis by speci ying ha in e nal con ol sys ems ha e a signi ican impac on wo k o ce g ow h. Wha
abou ou second hypo hesis?
In e na ional Jou nal o Cu en Science Resea ch and Re iew
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3.2. Impac o isk mapping on changes in ne p o i
The objec i e he e is o e i y ou second speci ic hypo hesis, which s a es ha , hanks o isk mapping, in e nal audi ing has an
impac on he e olu ion o ne p o i in small and medium-sized en e p ises. The esul s o he simple linea eg ession es a e gi en
in he able below:
Table 4: ANOVAa
Model
Su o squa es
D
Mean squa e
F
Sig.
1
Reg ession
15,157
1
15,157
21,623
,000b
S uden ’s
30,843
44
,701
To al
46,000
45
a. Dependen a iables: E olu ion o ne income
b. P edic ed alues: (Cons an s), Risks mapping
Sou ce: SPSS .20
The able abo e shows ha he eg ession es we ha e chosen is s a is ically signi ican a he p ede ined isk h eshold o 5%. In
o he wo ds, he eg ession es is alid o he es o ou analysis.
Table 5: Coe icien sa
Model
Uns anda dized coe icien s
S anda dized
coe icien s
Sig.
B
S anda d e o
Be a
1
(Cons an )
7,236E-017
,123
,000
1,000
Risks mapping
,574
,123
,574
4,650
,000
a. Va iable dépendan e : E olu ion o ne income
Sou ce : SPSS .20
The in o ma ion p o ided in he able abo e shows ha he s anda dised be a is 0.574 o he ela ionship be ween isk mapping and
changes in SMEs' ne income. F om his pe spec i e, he eg ession equa ion we a i e a is as ollows: Y=0.574X+7.236E-
017+0.83724.
Wi h he equa ion Y=ax + b + e; whe e Y= change in ne income, X= isk mapping, a= be a, b= cons an ; e= es ima ion e o .
Fu he mo e, he asymp o ic signi icance h eshold o 0.000 p o es ha ou es is s a is ically signi ican a he asymp o ic h eshold
o 0.05. Consequen ly, isk mapping appea s o in luence he change in ne income o SMEs. This inding is consis en wi h he R-
squa ed and adjus ed R-squa ed alues con ained in he able below:
Table 6: Summa y model
Model
R
R-qua e
Adjus ed R-
squa e
S anda d e o
es ima e
Modi ie les S a is iques
Va ia ion o
R-deux
Va ia ion
o F
D 1
D 2
Sig. Va ia ion de
F
1
,574a
,330
,314
,83724
,330
21,623
1
44
,000
a. P édic o s: (Cons an s), Risks mapping
Sou ce : SPSS .20
The able abo e shows a posi i e co ela ion coe icien ( = 0.574) coupled wi h a simila ly high and signi ican eg ession
coe icien . In o he wo ds, we e ain ou hypo hesis ha isk mapping has a conside able in luence on he e olu ion o ne income.
In ligh o hese indings, i is impo an o he small and medium-sized en e p ises su eyed o ake he in e nal audi unc ion and
he accompanying measu es e y se iously. Fo example, we ad oca e ha audi ing should be conside ed an independen unc ion,
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sepa a e om o he s, in o de o ensu e compliance wi h he code o e hics. Fu he mo e, gi en ha ou wo speci ic hypo heses
ha e been co obo a ed, we emphasise ha in e nal audi ing has a signi ican in luence on sus ainabili y.
4. DISCUSSION OF RESULTS AND MANAGERIAL IMPLICATIONS
The main objec i e o his esea ch is o s udy he di ec ela ionship be ween in e nal audi ing and he sus ainabili y o SMEs
h ough a e iew o he li e a u e. In he ollowing, we will discuss some manage ial implica ions.
I should be no ed ha mos SME manage s do no pe cei e he scope and alue o in e nal audi ing. As a esul , hey a e la gely
unawa e o he con ibu ion and oppo uni ies ha such a unc ion can b ing hem, and o en ha e a misguided and s e eo ypical
pe cep ion o in e nal audi ing. One o he misconcep ions abou he in e nal audi unc ion is ha i mainly deals wi h inancial
and accoun ing in o ma ion wi hou conce n o ope a ional and echnical a eas. This is a alse iew, as in e nal audi o s a e
in e es ed in all isks, and ope a ions a e no necessa ily ela ed o accoun ing. Fu he mo e, some people con inue o belie e ha
‘in e nal audi is he company's police o ce, and ha he in e nal audi o is no hing mo e han an inspec o o e en a aud hun e ’,
ailing o ecognise i s ole in imp o ing he company's pe o mance and achie ing i s objec i es. The in e nal audi o mus he e o e
suppo and be in ol ed in imp o ing p ocesses wi hou pa icipa ing in ope a ions.
The e o e, Came oonian business leade s should es ablish a sys em o inancial incen i es o s a , placing pa icula emphasis on
p o i sha ing, he awa ding o a 13 h mon h's sala y and a ious o he bonuses. This will ha e a di ec impac on he inancial
p o i abili y o he company and, in u n, on i s longe i y. I should also be no ed ha manage s would be well ad ised o o ganise
capaci y-building semina s o amilia ise hei s a wi h changes in he legal, ax and accoun ing en i onmen . This is essen ial in
o de o su i e in a cons an ly changing en i onmen ha could comp omise he longe i y o he company i i ails o adap .
Finally, manage s ha e an in e es in p io i ising compliance wi h accoun ing p inciples in o de o p oduce ele an inancial
in o ma ion. This mus necessa ily ansla e in o he implemen a ion o s ong in e nal con ols, and he in o ma ion p oduced mus
ake in o accoun he in e nal con ol p ocedu es pu in place. The s a e also has a ole o play in he p oduc ion o his ele an
in o ma ion, as manage s manipula e i much mo e in o de o escape p eda o y ax au ho i ies. The s a e mus he e o e aise
manage s' awa eness o he me i s o paying axes and he in.
5. CONCLUSION
In ligh o he ailu es and sho comings obse ed in small and medium-sized en e p ises, we hough i would be wise o es ablish
a link be ween he e adica ion o oppo unis ic beha iou wi hin o ganisa ions and su i al. In o he wo ds, he aim is o link in e nal
audi ing o sus ainabili y h ough he heme en i led: in e nal audi ing and he sus ainabili y o small and medium-sized en e p ises
in Came oon. The main ques ion ha a ises is: wha is he na u e o he in luence o in e nal audi ing on he sus ainabili y o small
and medium-sized en e p ises in he ci y o Douala? This ques ion aised wo u he ques ions o us: does he in e nal con ol
sys em con ibu e o inc easing he wo k o ce o small and medium-sized en e p ises? Does isk mapping con ibu e o inc easing
he ne income o small and medium-sized en e p ises?
In sea ch o answe s o hese ques ions, we se ou sel es he main objec i e o highligh ing he na u e o he in luence o in e nal
audi ing on he sus ainabili y o small and medium-sized en e p ises in he ci y o Douala. To do his, we used seconda y and p ima y
da a. Wi h ega d o seconda y da a, we e iewed a body o li e a u e ha enabled us o cla i y he concep s and b ing hem oge he
on a pu ely heo e ical le el. This li e a u e enabled us o o mula e he ollowing esea ch hypo heses: hanks o he in e nal con ol
sys em, in e nal audi ing con ibu es o he g ow h o he wo k o ce o small and medium-sized en e p ises on he one hand; and
hanks o isk mapping, in e nal audi ing has an impac on he e olu ion o he ne income o small and medium-sized en e p ises
on he o he hand. Ve i ying hese hypo heses equi ed us o app oach SMEs wi h an in e nal audi depa men .
The quan i a i e na u e o ou a iables ela ing o in e nal audi ing and sus ainabili y, as well as he numbe o SMEs in he ci y o
Douala, led us o conduc a quan i a i e s udy. This undoub edly led us o use non-p obabilis ic sampling based on easoned choice.
The da a collec ed was analysed using SPSS e sion 20 so wa e. A e a se ies o dimensionali y educ ion analyses, we pe o med
simple linea eg essions. Fu he mo e, sus ainabili y is a ela i ely weak and li le-moni o ed concep . The esul is ha ou a ious
hypo heses ha e been co obo a ed. In o he wo ds, hanks o he in e nal con ol sys em, in e nal audi ing con ibu es o he g ow h
o he wo k o ce o small and medium-sized en e p ises on he one hand; and hanks o isk mapping, in e nal audi ing has an impac
