The Effectiveness of Audit Functions in the Growth of Revenue and Volume of Business Firms: Evidence From Selected Firms in Kitwe, Zambia

This study assessed the role of audit functions in the growth of revenue and business volume among selected firms in Kitwe, Zambia. A descriptive cross-sectional survey used purposive sampling; 104 completed responses were analysed in MegaStat. Two-tailed one-sample t-tests compared Likert-scale means with the neutral midpoint (μ₀ = 3) at α = .05, with Holm adjustment for multiple comparisons. The results showed that while audit functions did not directly increase revenue, they contributed to cost savings through the reduction of unnecessary expenditure (M = 4.096, t(103) = 10.312, adjusted p < .001). Respondents also rated profitability (M = 3.865), resource utilisation (M = 3.875), and increased business revenue (M = 4.154) above neutral (all adjusted p < .001). All five business-growth indicators were also above neutral (all adjusted p < .001): expansion (M = 4.067), decision-making (M = 3.788), sustainability (M = 3.981), competitiveness (M = 4.096), and long-term growth (M = 3.779). Long-term growth drew the lowest combined agreement (66.4%). Inadequate technology (30.1%), poor record keeping (23.3%), and high audit costs (20.4%) were the most frequently reported constraints. Findings represent respondents’ perceptions, not causal effects on audited financial outcomes. Firms should strengthen audit technology, records, management support, and follow-up on recommendations.