Internal Audit Department
The Internal Audit Department is established within the Ministry of Finance and provides internal audit services across ministries, departments, and public bodies. It operates with authority and independence, reporting functionally to the Audit Committee and administratively to the Financial Secretary. It takes a systematic, disciplined approach to risk management, control, governance, and fraud prevention, conducting all activities in conformance with the Institute of Internal Auditors’ Global Internal Audit Standards.
Key Responsibilities
- Risk Management: Identifying, assessing, and reporting on risks that could affect government objectives, ensuring all planning and audit activities are risk-based.
- Compliance: Ensuring that ministries, departments, and public bodies operate in compliance with laws, regulations, accounting standards, and financial rules and procedures.
- Economy, Efficiency & Effectiveness: Evaluating whether public resources are being used optimally and that government operations deliver value.
- Safeguarding of Public Funds and Assets: Monitoring the legality, integrity, and supporting documentation of financial transactions to protect public resources from misuse.
- Reliability of Financial Processes and Information: Assessing the accuracy and dependability of financial reporting and internal control systems across government.
- Audit Reporting : Issuing a written report for each internal audit conducted, with management required to respond to recommendations within 4 weeks with an action plan and target completion dates.
- Advisory Engagements: Providing advisory services to management upon request to support improved governance and operational practices.
- Investigations: Conducting investigations, with the approval of the Audit Committee, into matters of concern across ministries and public bodies.
- Oversight and Quality Assurance: Providing functional support, training, supervision, and quality assurance for internal auditors across central government, statutory bodies, and state-owned enterprises to minimize duplication and maximize audit coverage.
- Unrestricted Access: Exercising full access to people, property, and records across all ministries and public bodies, with full control over the content of its audit reports.
Contact Information
Opening Hours
Mon – Thurs: 8:00 am – 5:00 pm
Friday: 8:00 am – 4:30 pm
Friday: 8:00 am – 4:30 pm
