The Internal Audit Division is responsible for providing assurance on the Board’s internal control systems, risk management framework and the governance structure
Internal Audit functions entail;
- Develop, implement and review internal audit policies, standards, guidelines, procedures and programs in line with the relevant regulations;
- Provide secretariat to the Audit committee;
- Formulate and coordinate the implementation of internal audit policies, strategies and plans;
- Prepare internal audit reports;
- Conduct scheduled, ad hoc and special audits and investigations;
- Establish and implement systems in accordance with auditing standards;
- Undertake risk based and systems audit to strengthen internal control mechanisms;
- Provision of independent assurance on risk profiling and management process on both design and operation;
- Review correctness and accuracy of accounting reports;
- Liaise with the external auditors on audit matters;
- Review and evaluate the Board’s management systems and operations;
- Assurance on risk control effectiveness, efficiency and adequacy and risk management processes; and
- Prepare the annual audited report for the Board.