Internal Audit Mandate
The Internal Audit Unit has the mandate to carry out two main functions: Quality Assurance and Consulting services. Internal audit provides an objective and unbiased independent examination and inspection of evidence for the purpose of providing an independent assessment on governance, risk management and control processes for the Ministry of Trade, Industries and Tourism by conducting finance, Compliance, Performance, IT Systems and Forensic Audits. The Internal Audit also provides consulting services to assist the Ministries management in meeting their objectives by conducting facilitations, training, and research services on approaching issues facing the ministry and assisting in improving risk management, internal controls and governance structures.
Internal Audit Objectives and Responsibility
The main objectives of an internal audit are to keep stringent control over all the activities of the ministry, to keeps a very close check on the accounting system of the ministry, to keep a check on the financial and operational aspects of a Ministry, to provide complete protection of ministry’s assets. The Internal Audit is also responsible for reviewing and reporting on internal controls over financial resources of Ministry and classification and allocation of revenue and expenditure accounts, Preparing and implementing of audit annual work plans for the ministry, preparing of monthly, quarterly and annual audit reports, facilitating the preparation of harmonized risk management framework, harmonizing annual monitoring and evaluation reports, Preparing and implementing strategic audit plans, developing audit policies and procedures to facilitate compliance with relevant standards, and institutionalizing internal audit systems and controls of the ministry.
