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To assess and evaluate adequacy, efficiency and effectiveness of internal control systems, risk management and governance processes.
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Check compliance with laid down rules and regulations, policies, procedures and contracts.
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Provide advisory role to management on issues relating to internal controls, risk management and governance processes.
Objectives
Objectives of Internal Audit Unit (IAU) could better be understood by defining what internal auditing is:
"An independent objective assurance and consulting activity, designed to add value and improve the organization's operations.
It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management,
control systems and governance processes."
To achieve the foregoing definition, our objectives will be to:
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Strengthen the internal control systems, risk management and governance processes within Government bodies
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Establish the extent to which institutional setup is consistent with the mission and functions of the ministry
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Examine the administration and technical systems and relate those to the functions of the ministries
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Identify needed adjustments or revision, additions to systems and recommend as appropriate
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Assess adequacy and effective use of modern equipment, tools and instruments
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Enforce proper control mechanisms to minimize incidents of fraud.