Podcast
Questions and Answers
What is the primary function of the Internal Audit Agency in relation to MDAs and MMDAs?
What is the primary function of the Internal Audit Agency in relation to MDAs and MMDAs?
To set standards and procedures for the conduct of internal audit activities.
What is one of the key responsibilities of the Internal Audit Agency in ensuring national resources are utilized effectively?
What is one of the key responsibilities of the Internal Audit Agency in ensuring national resources are utilized effectively?
To ensure national resources are used economically, effectively, and efficiently.
What is the purpose of the Internal Audit Board?
What is the purpose of the Internal Audit Board?
To govern the Internal Audit Agency.
Who appoints the members of the Internal Audit Board?
Who appoints the members of the Internal Audit Board?
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What is one of the ways the Internal Audit Agency prevents and detects fraud?
What is one of the ways the Internal Audit Agency prevents and detects fraud?
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What is the role of the Internal Audit Agency in keeping MDAs and MMDAs informed?
What is the role of the Internal Audit Agency in keeping MDAs and MMDAs informed?
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What is the purpose of the Internal Audit Agency's monitoring and evaluation activities?
What is the purpose of the Internal Audit Agency's monitoring and evaluation activities?
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What is one of the key outcomes of the Internal Audit Agency's activities?
What is one of the key outcomes of the Internal Audit Agency's activities?
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Study Notes
Functions of the Internal Audit Agency
- Sets standards and procedures for internal audit activities in MDAs and MMDAs
- Ensures accuracy, reliability, and timeliness of financial, managerial, and operating information reported internally and externally
- Verifies compliance of financial activities in MDAs and MMDAs with laws, policies, plans, standards, and procedures
- Safeguards national resources and ensures their economic, effective, and efficient use
- Aligns with plans, goals, and objectives of MDAs and MMDAs
Additional Responsibilities
- Promotes economy, efficiency, and effectiveness in government programmes and operations
- Develops and maintains efficient internal audit plans for MDAs and MMDAs
- Facilitates prevention and detection of fraud
- Keeps MDAs and MMDAs informed about problems and deficiencies in programme administration and required corrective action
Governing Body of the Agency
Internal Audit Board
- Consists of members appointed by the President in consultation with the Council of State
- Members include:
- A chairperson
- The Minister responsible for Finance or a representative
- The Minister for Local Government and Rural Development or a representative
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Description
This quiz covers the roles and responsibilities of the Internal Audit Agency, including setting standards, ensuring accuracy, verifying compliance, and safeguarding national resources.
