Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an 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, and governance processes – The Institute of Internal Auditors Inc., (IIA).
Internal auditors deal with issues that are fundamentally important to the survival and prosperity of any organisation. Unlike external auditors, they look beyond financial risks and statements to consider wider issues such as the organisation’s reputation, growth, its impact on the environment and the way it treats its employees.
In summary, Internal Auditors help organizations’ to succeed. They do this by providing a combination of assurance and consulting services. The assurance part of their work involves informing management about how well the systems and processes designed to keep the organisation on track are working.
Accounting Officers and AIE Holders are responsible for putting in place effective governance, risk management and control systems in the Ministry/Department/Agency they head. The primary role of Internal Auditors is to support Accounting Officers and AIE Holders in discharging these responsibilities, by performing independent and objective appraisals of the effectiveness of these systems. Internal Auditors reports functionally to the Audit Committee and administratively to the Accounting Officers.
There are no restrictions placed upon the scope of work of the IAGD. Members of the IAGD engaged in internal audit work are entitled to unlimited access to information, facilities and records, and to receive all explanations they consider necessary to fulfill their responsibilities.
In addition to the routine internal audit reviews, the IAGD may, from time to time, carry out special audits/investigations in various State Organs and Public Entities.