The department is anchored in the Public Finance Management Act, No. 18 of 2012, Sec. 73 and Regulations. The establishment of this department is also a requirement for public institutions in compliance with the Code of Governance for State Corporations, Mwongozo. The department is responsible for providing independent and objective assurance to the Agency’s internal control systems and processes by systematically evaluating the effectiveness of risk management, control and governance processes. The Department will be responsible to the Director administratively and functionally to the Board.
Internal Audit & Risk Assurance Department
The functions entails: –
- Review budget performance, financial management, transparency and accountability mechanisms and processes;
- Provide reasonable assurance on the state of risk management, control and governance within the Agency;
- Conduct value-for-money and systems audits aimed at strengthening internal control mechanisms that could have an impact on achievement of the strategic objectives of the Agency;
- Assess compliance with applicable laws, regulations, policies and procedures;
- Assure the Board that resources are acquired economically, utilized efficiently and adequately protected;
- Undertake special audits/investigations; and
- Provide secretarial services to the Audit Management Committee.
Procedures
