INTERNAL AUDIT || Ukaguzi wa Ndani - INTERNAL AUDIT OBJECTIVES:

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INTERNAL AUDIT OBJECTIVES:

Internal Audit’s objectives in accomplishing its mission will include the following:

Determines  priorities and establishment the most cost – effective means of  achieving audit objectives;

Assist in the direction and control of audit work;

Helps to ensure that attention is devoted to critical aspect of audit work and help to ensure that work is completed in accordance with pre- determined targets;

Identifies audit areas by:-

-Activity (payroll, income, purchasing);

-Nature of audit  (protective, systems, value for money);

-Level of audit required (degree of risk, frequency and extent).

To evaluate the adequacy of management’s internal control structure.

To evaluate the economy; efficiency and effectiveness of the organizations operations.

To assess the extent of compliance with applicable laws, regulations, policies and procedures.

To evaluate the adequacy, reliability and effectiveness of financial and personnel reporting systems.

Appraisal the quality of management’s performance in meeting goals and objectives.

Perform reviews directed towards creating ways of reducing costs.

Investigate management’s, concerns relating to fraud, embezzlement and theft.

Verify the existence and assurance proper safeguarding of assets.

To follow-up closely on the previous year audit findings and recommendations and instructions/directives issued by the public accounts committee (P.A.C.) and to ensure that proper actions have been taken in respect of all matters being raised.

To determine whether the Regional Secretariat has taken corrective action on all matters raised in previous year’s audit reports.

To ascertain that the Appropriation Accounts and other Financial Statement are prepared in accordance with instructions/Guidelines and International Public Sector Accounting Standards (IPSAS).

To ascertain whether all necessary documents, books, register, accounts and information have been kept in respect of all transactions

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