As part of our strategy to modernize internal audit methodologies, the Internal Audit Department has been undertaking reforms within the context of Public Financial Management Reform (PFMR) programme.
These reform initiatives aim at moving away from regularity and compliance audits and adapting more value adding audit techniques and include;
- Shift from pre-auditing/transactions audit to systems audit,
- Adoption of Risk Based Audit Approach(RBAA) and spearheading Development of Institutional Risk Management Policy Framework (IRMPF) in the public sector,
- Adoption of internal audit standards and best practices as promulgated by the Institute of Internal Auditors (IIA),
- Enhancement of governance through establishment of ministerial audit & risk management committees
- Introduction of IT supported audits and roll out of Audit Management System (Teammate),
- Adoption of Value for Money Audits/Performance Audits