About Internal Audit.

The department is headed by Chief Internal Auditor. We have a professional duty to provide unbiased and objective view. We must be independent from the operations we evaluate and report to the highest level in an organization; senior managers and governors. Typically this is the board of directors or board of trustees, the accounting officer or the audit committee.

Staffing.

Internal Audit has five (5) staff members, namely

1. Ipyana Sindikila Mwakibinga
2. Migo Kapesa Ruhumbika
3. Bahati Michael Kilungu
4. Peter Gerison Lukumay
5. Juliana Ngondo Anania

What do Internal Auditors do?

Internal Audit is a multidimensional discipline that spans over all sectors that has evolved to a key position within organizations. The internal auditor is often described as the organization’s critical friend – the independent advisor who can challenge current practice, champion best practice and be a catalyst for improvement with the objective of ensuring that the organization as a whole can achieve its strategic objectives. As advisor to management, Internal Auditors acts as the right hand of the Board of Trustees through the Audit Committee by giving assurance on the organizations ability to meet objective, its governance, risks and controls. Internal Auditors often have input into strategic planning, market analysis, compliance, change management and the use of information technology.

Roles of Internal Audit

• Evaluating controls and advising managers at all levels
Evaluating controls and advising managers at all levels The Internal Auditor’s work includes assessing the tone and risk management culture of the organization as well as evaluating and reporting on the effectiveness and efficiency of implementation of management policies.
• Evaluating risks
Internal Auditors identify key activities and relevant risk factors and assess their significance. Changing trends and business/ economic conditions impact the way the internal auditor assesses risk. The techniques of internal auditor have changed from a reactive and control based to a more proactive and risk based approach. This enables the internal auditor to anticipate possible future concerns and opportunities as well as identifying current issues.
• Analyzing operations and confirming information
Internal Auditor works closely with line managers to review operations then report their findings. The internal auditor must be well versed in the strategic objectives of the organization, so that they have a clear understanding of how the operations of any given part of the organization fit into the bigger picture.
• Reviewing compliance
Compliance review ensures that the organization is adhering to rules, regulations, laws, codes of practice, guidelines and principles as they apply individually and collectively to all parts of their organization.

DEFFERENCES BETWEEN INTERNAL AUDITORS (IAs) AND EXTERNAL AUDITORS (EAs).
Although Internal Audit does have a degree of focus on the financial aspect of the organization, it is essentially not a financial discipline, - unlike its counterpart External Auditor. Its multidimensional nature mandates a much broader scope in the organization than that of External Audit. The nature of Internal Audit’s daily work creates the opportunities to acquire a significant amount of depth and breadth of understanding of the organization’s strategy and operations. Its multidimensional nature therefore inevitably shapes internal auditors into ideal candidates for executive positions.

• Mandate
IAs have duty to senior management and the board via the audit committee on the state of governance, risk management and control within the organization. WHILE, EAs have a statutory obligation to shareholders and the public on the accuracy of the annual report and the financial statements.
• Area of focus
IAs focus on the whole organization, all department, functions and operation WHILE, EAs focus on finance and accounting
• Independence
IAs are part of the organization but independent of management, they provide internal audit assurance and report to the audit committee. WHILE, EAs are independent external assurance providers to the organization and have a statutory obligation
• Risk and control
IAs provides an independent view on the organization’s governance, risk management and control processes. They review the adequacy of control design to ensure that risks are effectively managed, and then test operation of key control to ensure they are operating as intended and there are effective in managing the organization’s risk WHILE, EAs identify risks and assess controls over financial reporting and place on controls to the extent practicable. Emphasis is on gaining sufficient audit evidence to conclude that the financial statements present a true and fair view.
• Driving Results
IAs makes recommendations to improve the overall internal control environment and to improve the operational performance of the organization as a whole WHILE, EAs make recommendations to improve the financial control environment.

Contact us

Internal Ext. 340