INTERNAL AUDIT DIRECTORATE.
Mandate of the Internal Audit Directorate
Internal Audit operates under policies established by the Board of Directors and is ultimately responsible to the Board for its activities. It is however tasked with giving an objective assessment as to whether the internal control systems established by Management are adequate, reliable and effective and reviewing the reliability and integrity of financial and operating information and the means used to identify, measure, classify and report such information.
The Organizational framework.
The Internal Audit division is characterized by a broad scope which may involve duties like management controls over proper utilization of corporation property, safe guarding assets, ensuring compliance with laws and regulations and post investigation to check and report on whether operations and programs are being carried out as planned.
The Internal audit directorate is in compliance with rules, regulations, policies, procedures and good practice.
The Key Result Areas of the Internal Audit Directorate.
1. Proper and prompt accountability for all Corporation funds,
2. Adequate internal controls in place for all key areas of the Corporation,
3. Value for money for all projects and programs undertaken by the Corporation,
4. Adequate measures in place to safeguard the assets of the Corporation
5. Reports to the Board.