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FINAL INTERNAL AUDIT CHARTER

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7 pages
THE REPUBLIC OF UGANDA CHARTER FOR INTERNAL AUDIT FUNCTIONS NOVEMBER 2008 1 1.0 Vision To be the leading provider of effective assurance and consulting services to Government. 2.0 Mission To provide independent, objective assurance and consulting services designed to add value and improve Government operations on risk management, control and governance processes. 3.0 Mandate of Internal Audit Internal Audit assists the Accounting Officer accomplish his/her objectives as set by the Public Finance and Accountability Act 2003 (S8 [3]), and in accordance with the Public Finance and Accountability Regulations 27 and 28, by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal control systems and compliance with government processes. The scope of work of the Internal Audit Function therefore encompasses the examination and evaluation of the adequacy and effectiveness of the ministries/departments/agencies system of internal control and quality of performance by carrying out the following assigned responsibilities: 3.1 Review and report on the system for generating financial information and data, and on the reliability and integrity of financial statements and other related accounting and financial information. 3.2 Conduct systems audit to ascertain whether or not internal controls are appropriate to the ...
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1.0 Vision
To be the leading provider of effective assurance and consulting services to
Government.
2.0 Mission
To provide independent, objective assurance and consulting services designed to add
value and improve Government operations on risk management, control and governance
processes.
3.0 Mandate of Internal Audit
Internal Audit assists the Accounting Officer accomplish his/her objectives as set by the
Public Finance and Accountability Act 2003 (S8 [3]), and in accordance with the Public
Finance and Accountability Regulations 27 and 28, by bringing a systematic, disciplined
approach to evaluate and improve the effectiveness of risk management, internal control
systems and compliance with government processes.
The scope of work of the Internal Audit Function therefore encompasses the examination
and evaluation of the adequacy and effectiveness of the ministries/departments/agencies
system of internal control and quality of performance by carrying out the following
assigned responsibilities:
3.1
Review and report on the system for generating financial information and
data, and on the reliability and integrity of financial statements and other
related accounting and financial information.
3.2
Conduct systems audit to ascertain whether or not internal controls are
appropriate to the entity, and whether or not they are operating effectively
and efficiently.
3.3
Conduct Value for Money audits on key activities of the public sector entity
to ascertain whether or not value has been obtained (efficiency,
effectiveness, and economy).
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3.4
Conduct risk management audits to ascertain whether or not management
has set procedures for risk identification and management including frauds
and money laundering.
3.5
Conduct environment audits to ascertain whether or not management has put
in place procedures for identifying environmental risks in its activities, and
for ensuring that these environment risks are monitored and managed
appropriately.
3.6
Conduct periodic reviews to confirm whether or not Government policies
and specific applicable instructions are followed, and confirm whether or
not management is complying with all applicable legislations and
regulations.
3.7
Review management arrangements for ensuring that objectives and values
of the entity are being achieved.
3.8
Conduct reviews on various projects implemented by the entity and report
on project management, implementation, and conduct post implementation
reviews.
3.9
Conduct reviews on resource acquisition, deployment & utilization, disposal
and whether there are appropriate and adequate arrangements for safe
custody of Government assets.
3.10
Conducting special audits and investigations as it may be requested by a
competent authority.
4.0
Authority
The authority of the internal audit function is enshrined in the Public Finance and
Accountability Act 2003 and the regulations. The staff of the Internal Audit Function are
authorized to:
4.1
Have unrestricted access to all functions, records, property and personnel
of the government ministry/department.
4.2
Have free access to the Audit Committee through the Head of Internal
Audit function.
4.3
Access adequate resources, determine scopes of work and apply the
techniques required to accomplish audit objectives.
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4.4
Access necessary assistance of personnel in ministry/department where
they perform audits, as well as other specialized services from within or
outside the ministry/department.
The Head and staff of the Internal Audit Function are not authorized to:
4.5
Perform any operational duties of the ministry/department /Agencies.
4.6
Initiate or approve transactions external to the internal auditing department.
4.7
Direct the activities of any ministry/department employee not employed by
the Internal Audit Function, except to the extent such employees have been
appropriately assigned to auditing teams or to otherwise assist the internal
auditors.
5.0 Accountability
The Head and staff of the Internal Audit Function in the Ministries, Departments and
Agencies in discharge of their duties shall administratively report to the Accounting
Officer and functionally to the Audit Committee and Commissioner Inspectorate and
Internal Audit to:
5.1
Provide quarterly and annually an assessment on the adequacy and
effectiveness of the ministry/department’s processes for controlling its
activities and managing its risks in the areas set forth under the mission
and scope/ mandate.
5.2
Report significant issues related to the processes for controlling the
activities of the ministry/department, including potential improvements to
those processes, and provide information concerning such issues through
resolution.
5.3
Periodically provide information on the status and the results of the annual
audit plan and the sufficiency of the Internal Audit Function resources.
5.4
Coordinate with and provide information to other oversight organs of
Government as deemed necessary.
5.5
Report on special assignment to appropriate authorities.
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6.0 Independence
The Staff of the Internal Audit Function in the Ministries, Departments shall report to the Head of Internal
Audit Function, who in turn reports administratively to the Accounting Officer and functionally to the
Audit Committee and Commissioner Inspectorate & Internal Audit.
7.0 Responsibility
The Head of the Internal Audit Function in Ministries, Departments and Agencies has a
responsibility to:
7.1
Prepare annual audit plan using an appropriate risk-based methodology,
and submit it to the Audit Committee for review and approval with a copy
to the Commissioner Inspectorate and Internal Audit for technical
guidance and quality assurance.
7.2
Implement approved annual audit plan including as appropriate any
special tasks or projects requested by the Accounting Officer, the Audit
Committee, the Commissioner Inspectorate and Internal Audit,
Accountant General, the Permanent Secretary / Secretary to Treasury or
other Competent Authority.
7.3
In liaison with the Commissioner Inspectorate and Internal Audit, the
Accountant General and other stakeholders, ensure that the Internal Audit
unit is equipped with adequate staff with sufficient knowledge, skills,
experience, and professional certifications to meet the requirements of this
Charter.
7.4
Evaluate, assess and report on significant emerging issues and their
effects/ impact on operations, and control processes and Internal Audit
function.
7.5
Issue periodic reports to the Audit Committee, Management,
Commissioner Inspectorate & Internal Audit and Accountant General.
7.6
Arrange periodic audit committee meetings and be the secretary for the
proceedings.
7.7
Assist in the investigation of significant suspected fraudulent activities
within the ministry/department and notify management and other
stakeholders of the results.
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8.0 Implementation of the Internal Audit Charter.
This Charter is a guide to the operationalisation of the Internal Audit provisions in the
Public Finance and Accountability Act 2003 and the regulations. The Accountant General
is responsible for the overall implementation of this Charter. The Accountant General
through the commissioner Inspectorate & Internal Audit shall ensure that the internal
audit function in each Ministry, Department and agency is appropriate to the needs of the
organisation concerned and conforms to the internationally recognised standards in
respect of its status and procedures.
The commissioner Inspectorate & Internal Audit is responsible for quality assurance and
supervision of the Internal Audit function in the Ministries, Departments and Agencies
and will continuously liaise with the Audit Committees.
The Head of Internal audit unit should continuously liaise with the Commissioner
Inspectorate & Internal audit and the Accountant General for appraisal, staffing needs,
training needs, and technical & professional development.
9.0 Relationship with other oversight organs
In the performance of their duties and through appropriate channels, the staff of Internal
Audit shall interact with and complement Parliament, the Office of the Auditor General,
the Inspector General of Government, the Directorate of Public Prosecutions, the
Criminal Investigations Department, the Directorate of Ethics and Integrity and other
government agencies or organizations to promote the efficiency, effectiveness and
economy in utilization of resources in the attainment of national objectives.
10.0 Standards of Audit Practice
All activities and recommendations of the Internal Audit Function will be to the highest
standards and ethical considerations and be consistent with the Government of Uganda
Laws, Professional Standards, Internal Audit and Inspection Manual and Best Practices.
11.0 Review of the charter
The Commissioner Inspectorate and Internal Audit
in consultation with the
Accountant General shall review this charter at least once a year and shall make
recommendations to the Secretary to the Treasury and the Minister on any changes
deemed necessary for the proper functioning of the Internal Audit function.
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12.0 Conflict of interest
Each Internal Auditor should take personal responsibility to pro-actively declare any conflict of
interest in the performance of their duties in accordance with the Public Service Code of
conduct, the Leadership Code and the professional codes of conduct.