Audit Manual Vol. I after Audit Committee2

K00005694

Description

INTERNAL AUDIT DEPARTMENT PROCEDURES MANUAL ST11 EEDDIITTIIOONN © 2006 This manual is intended for the sole use of the members of the Internal Audit Department ©© 22000066<> The contents of this manual may not be reproduced or reprinted in whole or in part without the express written permission of the Authority Kenya Revenue Authority Internal Audit Department Procedures Manual CONTENTS ACRONYMS AND INTERPRETATION...................................................................................v PREAMBLE........................................................................................................................... viii Introduction ........................................................................................................................ viii Use of the Manual...................................................................................................................x Exclusions...............................................................................................................................x Acknowledgements.................................................................................................................x Conclusion.............................................................................................................................xi CHAPTER ...

Informations

• Publié par: Enku
• Nombre de lectures: 122
• Langue: English

Extrait

INTERNAL AUDIT DEPARTMENT
PROCEDURES MANUAL




ST11 EEDDIITTIIOONN
© 2006



This manual is intended for the sole use of the members of the Internal Audit Department
©© 22000066<<KKeennyyaa RReevveennuuee AAuutthhoorriittyy>>
The contents of this manual may not be reproduced or reprinted in whole or in part without
the express written permission of the Authority Kenya Revenue Authority Internal Audit Department Procedures Manual
CONTENTS

ACRONYMS AND INTERPRETATION...................................................................................v
PREAMBLE........................................................................................................................... viii
Introduction ........................................................................................................................ viii
Use of the Manual...................................................................................................................x
Exclusions...............................................................................................................................x
Acknowledgements.................................................................................................................x
Conclusion.............................................................................................................................xi
CHAPTER ONE ...........................................................................................................................1
100 INTRODUCTION ...............................................................................................................1
110 Background......................................................................................................................1
120 The Internal Audit Charter................................................................................................2
130 Audit Committee Charter .................................................................................................6
140 Budgeting.......................................................................................................................10
150 KRA Structure ...............................................................................................................11
160 Monthly Reporting .........................................................................................................11
170 Compliance with the Law and Professional Standards ....................................................12
180 External Auditors ...........................................................................................................16
CHAPTER TWO .........................................................................................................................17
200 STAFFING AND PERSONNEL........................................................................................17
210 Organogram (KRA & IAD)............................................................................................17
220 Duties, Responsibilities and Qualifications.....................................................................18
230 Appointment, Promotion and Dismissal of Auditors.......................................................23
240 Training and Professional Development .........................................................................23
CHAPTER THREE .....................................................................................................................25
300 THE AUDIT PROCESS ....................................................................................................25
310 Audit Planning ...............................................................................................................25
320 Fieldwork.......................................................................................................................30
330 Conduct of Fieldwork.....................................................................................................31
340 Work Papers...................................................................................................................43
350 Exit Meeting ..................................................................................................................48
360 Audit Quality .................................................................................................................49
370 Audit Reporting and Follow-up ......................................................................................52
Internal Audit Department ii
Kenya Revenue Authority Internal Audit Department Procedures Manual
CHAPTER FOUR .......................................................................................................................53
400 INTERNAL CONTROLS, AUDIT RISK AND MATERIALITY......................................53
410 Introduction....................................................................................................................53
420 Audit Risk and Materiality .............................................................................................61
430 Minimising Audit Risk ...................................................................................................64
440 Materiality......................................................................................................................66
CHAPTER FIVE ........................................................................................................................70
500 FINANCIAL AUDITS.......................................................................................................70
510 Introduction....................................................................................................................70
520 Financial Structure .........................................................................................................70
530 Definition.......................................................................................................................71
540 Budgetary Control Process .............................................................................................73
CHAPTER SIX ...........................................................................................................................76
600 OPERATIONAL AUDITS.................................................................................................76
610 Introduction....................................................................................................................76
620 Nature of Operational Audits..........................................................................................77
630 Operational Audit Performance ......................................................................................77
640 Performance Audit /Value for Money.............................................................................78
CHAPTER SEVEN .....................................................................................................................82
700 INSPECTION ....................................................................................................................82
710 Introduction....................................................................................................................82
720 Staff ...............................................................................................................................82
730 Transport........................................................................................................................85
740 Administrative Matters...................................................................................................85
CHAPTER EIGHT......................................................................................................................87
800 OTHER TYPES OF AUDITS ............................................................................................87
810 Quality Management Programme (QMP) Audits ............................................................87
820 Investigative Audits........................................................................................................88
830 Third Party Audits..........................................................................................................94
840 Consulting Services........................................................................................................95
850 Information Systems (IS) Audits ....................................................................................97
860 Project Management Audit...........................................................................................103
CHAPTER NINE .....................................................................................................................106
900 REPORTING AND FOLLOW-UP ..................................................................................106
Internal Audit Department iii
Kenya Revenue Authority Internal Audit Department Procedures Manual
910 Introduction......................................