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The internal audit unit is an independent body directly responsible to the Accounting Officer for a complete audit of the Commission’s activities. For this purpose, the Unit carries out not only financial audit, but also management audit with a view to monitoring the efficiency and effectiveness of management’s policies, while also ensuring transparency and accountability.
2.0. Mandates/Functions of Internal Audit Unit:
The formal instrument for the establishment of Internal Audit Units in Ministries and Extra-Ministerial Departments is the Financial Regulations(Revised to 2009).As stated in chapter 17 thereof,” an internal audit unit is established to provide a complete and continuous audit of the accounts and records of revenue and expenditure, plants, allocated stores and unallocated stores….” Therefore, in achieving its deliverables, the following are the mandates of the Unit:
- To ensure that government account is properly kept.
- To ensure that treasury fund is spent as appropriated.
- To ensure that the commission gets adequate value for all its expenditures (Value for money audit).
- To render monthly, quarterly, half yearly and yearly reports to the Accounting Officer and submit same to the office of the Accountant-General and Auditor-General for the Federation.
- To ensure that all public funds are properly accounted for.
- To ensure that government work is carried out in accordance with Public service Rules, Financial regulations and extant circulars.
- To ensure monthly rendition of returns.
- To proffer solutions and render professional advice when the need arise.
3.0. Services Provided:
The Unit ensures that, the total operations of Government are carried out in an economic, efficient and effective manner. In other words, it conducts value for money audit by ensuring that all appropriations are disbursed in the interest of public service.
From the above, one could easily identify some of the key roles played by the Unit in ensuring that a reasonable assurance system, capable of putting checks to elements of fraud and corruption is in place.
Therefore, in line with the Freedom of Information Act on Proactive Disclosure, it is hoped that this would suffice to a large extent in educating and informing the public accordingly.