Internal Audit Executive
Internal Audit
Introduction
A free and independent audit service plays an important role in transferring reliable information to government decision makers, third parties (lending and philanthropic donor organizations), investors, the trading community and international institutions. Due to this, an audit department must be led by a principled professional who has competence, honesty and integrity. Dealing with economic decisions, government bodies should make decisions based on current and reliable information pertinent to the economic issue at hand.
The increase in the need for information that is obtained from a free and independent body by international institutions, trading communities, government executive bodies, justice bodies, investors, banks, lending and philanthropic donor organizations to determine and guide their undertakings has resulted in the development of a free and independent audit service. In this regard, the Audit Department of the Ministry has thus been organized in such a way that
- Finance and property audit case team and
- Performance audit case team has been formed under its authority, so that it will be able to deliver service which is aligned with the current context.
Vision of the Department
The Department aspires to be the preeminent office among government and non-governmental institutions that deliver efficient and quality audit service that is supported by technology enabling the Ministry to attain its goals.
Mission of the Department
In order for the ministry to achieve its mission, the Department strives to check whether the ministry is using government allocated resources according to government rules and regulations and aims at providing reliable assistance to the success of the strategic plan of the ministry by evaluating and examining whether the office’s execution of the plan is commensurate with the allocated resources.
Values of the Department
– We persevere for transformation
– We work to root out the myth: ‘auditing is faultfinding’.
– We work to ensure that the right resources have been used for the right result.
– We ensure that government rules and regulations have been respected.
Duties and Responsibilities of the Audit Department
Internal Audit Directorate
The Internal Audit is responsible for an independent, objective assurance and consulting activity designed to add value and improve the public body’s operations. It helps the public body accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes
v The duties of internal auditors are to:
· Respect the Internal Audit Standards of Government of Ethiopia including the Code of Ethics;
· Consult with the head of Internal Audit unit and respect the leadership on all aspects of auditing;
· Propose audit topics and draft audit programs;
· Carry out all aspects of auditing in accordance with the most appropriate standards and guidelines (including those appearing in this manual);
· Ensure that the Head of internal audit conducts all final audit reports and official dealings with management
v The responsibilities of internal auditors are to:
· Conduct internal audits at specific time intervals to ascertain that public money and property are used for intended purposes;
· Develop audit programs and audit procedures which are specifically designed to meet the requirements of the public body;
· Develop a monitoring system which will at regular intervals test and report to management on the public body’s compliance with applicable internal and external directives and procedures;
· Advise management at regular intervals on its internal practices and controls and on whether they are efficient, effective and economical;
· Submit audit reports to the head of the public body.
Duties and Responsibilities of the Case Teams Organized Under the Department
Major Activities of the Finance Audit Case Team
The finance audit presents to the Ministry of Finance and Economic Development a report of quarterly-made assessments of whether the office’s use and handling of the finances and properties are in accordance with the rules and regulations set by the government. In the report, it presents suggestions that help to fill in performance gaps, monitors performance, provides consultancy services to superior leadership, and performs special auditing tasks given to it from the higher leadership.Major Activities of Performance Audit Case Team
The major activities of performance audit are conducting two performance audit evaluations annually in accordance with the defined criteria to see whether the office’s performance results are compatible with the allocated resources, as well as to look into whether there is an economical use of resources, effective performance, accessibility of service, and efficiency and using the results of the evaluation to fill performance gaps by suggesting possible improvements, presenting a performance report to the top leadership, follow-up the implementation of decisions, and consultancy service.
