Develop an annual audit plan based on comprehensive risk assessment and submit to the Management for approval and endorse a copy of approved plan to Central Coordinating Agency (CCA) for reference.
Implement the approved annual audit plan in accordance with the International Standards for Professional Practice of Internal Auditing and Internal Audit Manual including, as appropriate to the mandates of Internal Audit and not contradictory to the Internal Audit’s Code of Ethics, any special task or project requested by the management. The impact of resource limitations and significant interim changes in the plan will also be communicated to them.
Issue reports annually summarizing results of audit activities and status of implementation of past audit recommendations to the management and endorse a copy to CCA for reference.
Provide adequate follow up to ensure corrective action is taken and evaluate its effectiveness and reports results.
Maintain a professional audit staff and seek experts view as and when required from the Central Coordinating Agency for Internal Audit Service.
Notify appropriate authority of any significant corruption (criminal) offences recognized or detected during the course of internal auditing.
Consider the scope of work of the external auditors and other regulators as appropriate and collaborate with them for the purpose of providing optimal coverage and avoid duplication of work.
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