INTERNAL AUDIT UNIT
Internal Audit is strictly a regulatory function. A unit established by statute to provide a complete and continuous Audit of the Accounts and Records of Revenue and Expenditure, Assets and Stores. Its operation is guided at all times by Financial Regulations, Extant Rules and other Treasury and control Policies. The unit is embedded in the Director-General office, therefore the Director of Internal Audit is directly responsible to the Director-General whose attention he must draw to any irregularity in the accounting procedures and Records or/and weaknesses identified in the control processes.
VISION AND MISSION STATEMENTS
The Unit's Vision and Mission Statements are as follows:
To operate a professionally based unit that is committed to management conscience on Probity and Accountability, Responsive to the scheme's various challenges on Due Process
Adding value to management decision making through sond and Credible Financial and Operational Reporting
Departmental Divisions and Units:
The Internal Audit has two Sections:
- DHQ Audit:- covering activities of DHQ Pre-auditing/Venture/Procurement/Stores/Collaborations/Special Audit and Investigations.
- State Audit:- overseeing the activities of the State Audit Desk functions and Post-auditing of the States' operations.
ROLES OF THE INTERNAL AUDIT
Basically the Unit's activities/roles cover::
- Ensuring compliance with Extant rules and Regulations and the existance of effective Internal Control
- Ensuring that Accounting and Store Records and Book are kept accurately.
- Ensuring that the systemfor the control of expenditure is adequate and that all payments undergo de process.
- Checking efficiency of use of resources
- Checking level of achievement of set objectives
- Checking total operations of the scheme for economy efficiency and effectiveness
The Interal Audit Unit Submits Reports directly to the Director-General under a confidential seal in compliance with the provisions of section 1706 of the financial Regulations with copies to the Accountant-General of the Federation and the Audito-General of the Federation.