INTERNAL AUDIT UNIT
CPA. Johanes Kerenge
Chief Internal Auditor
To assist the Institute to accomplish its strategic and operational objectives by bringing a systematic and disciplined approach to evaluate and improve the effectiveness of the Institute’s risk management, control and governance processes.
This Unit performs the following activities: –
- Prepare annual audit plan using an appropriate risk based methodology and submit to the audit committee for review and approval;
- To prepare appropriate budget for the unit;
- Implement approved annual audit plan including any special tasks or projects requested by Management, Audit Committee and Rector;
- Assist in the investigation of significant suspected fraudulent activities and inform management on results;
- Assist management on follow up of external auditors or regulatory reports and recommendations;
- Conduct special reviews or studies as requested by the management or the audit committee;
- Ensure internal audits work are in accordance with standards for professional practice of internal auditing and internal audit Code of ethics as well as other professional auditing standards that may be applicable
- Issue periodic reports to the management and Audit Committee;
- Ensure execution of audit duties;
- Carry out systems audit;
- Ensure that there is compliance with established policies, procedures,controls and other regulations;
- Check the effectiveness of budgetary control system;
- Advise on costs to minimize unnecessary expenses;
- Advise on the best use-of the Institute resources;
- Detect fraud, theft, and waste of any kind of assets;
- Prepare audit reports for executed audit programs; and
- Examine and reviews annual financial statements for conformity with International financial standards.
This Unit is led by a Chief Internal Auditor.