What is objective of internal auditing?

Objectives of The Internal Audit Unit

Internal Audit's objectives in accomplishing its duties will include the following:

1.Determine the accuracy and propriety of financial transactions

2.Evaluate financial and operational procedures for adequacy of internal controls and provide advice and guidance on control aspects of new policies, processes systems

3.Verify the existence of assets and ensure that proper safeguards are maintained to protect them from loss

4.Determine the level of compliance with the ministry policies and procedures, and Government laws and regulations.

5.Evaluate the accuracy, effectiveness, and efficiency of the electronic information and processing systems

6.Determine the effectiveness and efficiency of Ministry in accomplishing mission and identify operational opportunities for cost savings and revenue enhancements.

7.Coordinate audit efforts with, and provide assistance to, the Audit committee and external auditors

8.Investigate fiscal misconduct