Internal Audit

INTRODUCTION

In line with the provision of Section 1701(i) of the Financial Regulation (FR), the Internal Audit Department is Managerial Control Mechanism/tools that measure and evaluates the effectiveness of internal control in an organization.

The Department by performing its functions will contribute in ensuring due process were met in all transactions and extant rules and regulations are followed, thereby promoting accountability and transparency in order to enhance and improved effectiveness and efficiency in the delivery of the mandate of the office.

The Department is meant to achieve the following objectives as specified in Financial Regulations 1701 Revised Version 2010;

• To maintain a sound based system of Internal Control in all the Departments, Units and formations of this Ministry;
• To ensure that controls and procedures are both effective and efficient;
• To protect the assets and interest of the Ministry and help to prevent or detect fraud, misappropriation of funds, reduce losses due to waste or extravagancy;
• To inspect and monitor the use of all resources in compliance with the Government Rules and Regulations, Policies and Procedures;
• To report findings and observations to Management and make recommendations for corrective purpose where necessary.

FUNCTIONS

In line with the core mandate of the Department, the following are the functions performed:

1. Ensuring periodic checks of all Government Statutory Corporations, Commissions, Agencies and Formations under the Ministry;
2. To ensure adequate internal control measures in the Ministry;
3. Evaluation of effectiveness of internal control system in the Ministry;
4. To inspect/monitor departments under the office to safeguard, prevent or for early detection of errors and anomalies;
5. To ensure system of control of expenditure is adequate and that all payments made are properly authorized for the correct amounts and that they are paid to the right persons, classified to the correct heads and made for the purpose for which they were authorized through 100% pre-payment Audit;
6. A system for the control of issue and consumption of stores is adequate, that all issues are properly authorized, made to the right persons for the purpose which there must have been authorized and adequate stores records are maintained;
7. To advise Management on any observation made on financial accounting, asset and store matters;
8. To ensure prompt monthly, quarterly, half yearly and annual reports to Management, Accountant-General of the Federation, Permanent Secretary, Auditor-General for the Federation and other relevant agencies;
9. To ensure that staff personnel emoluments are promptly paid under the Integrated Personnel Payroll Information System (IPPIS).

CONCLUSION

The Department is doing its best to ensure that the core mandate of the department was achieved in line with extant rules and regulations.

Through our Audit Report to various stakeholders, suggestions and recommendations are made in order to achieve the overall objective of the Ministry.