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Internal Audit

Internal Auditors in Central Government are charged with the responsibility of assisting Accounting Officers in the effective discharge of their duties as defined in the Exchequer and Audit Act, Chapter 69:01. Internal Auditors must examine the records of their Ministries/Departments in order to ascertain the extent of compliance with established policies and procedures as established by the Treasury and must ensure that expenditure incurred and revenue earned conform to the Estimates of Expenditure/Revenue approved by Parliament. They must also ensure that expenditure incurred under the various votes, are made in accordance with Budgeted Allocations and that expenditure does not exceed releases granted.

1.1.3 The Financial Regulations to the Exchequer and Audit Act, Chapter 69:01

In addition to the Exchequer and Audit Act which states and interprets the law, Internal Auditors are also guided by the Financial Regulations in their daily operations. These Regulations provide a more detailed guidance and makes provision for an independent Internal Audit Unit. Part II Section 13 (4) of the Regulations states:- “Each Accounting Unit shall have a check staff and an independent internal audit unit” Part II Sections 4 (1) and (3) of the Exchequer and Audit Act makes provision for the control and management of the accounts. Part I Section 8 of the Regulations also states:

“It is the duty of an accounting officer to – 

(a) ensure that the proper system of accounting as prescribed by the Treasury is established and maintained.” Guided by the Financial Regulations in their role and responsibilities, Internal Auditors will be able to give assurance to Accounting Officers that records are accurate, systems of internal controls are performing effectively, and there is compliance with systems laid down by the Treasury.

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