Internal Audit and Assurance Process

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24 Questions

What was abolished as a condition of service for permanent and pensionable employees?

Service Benefits

What is the focus of the new 270 Degree Performance Management tool?

Key Performance Indicators

What does the ERB recognise as its most valuable asset?

Its employees

What was the purpose of disseminating awareness bulletins among staff members?

To educate staff about preventive measures against cyber threats

What was the goal of raising cyber security awareness among staff members?

To safeguard the data and information of both the ERB and its licensees

What was the purpose of redesigning the ERB website?

To enhance its effectiveness in serving stakeholders and promoting transparency

What did the ERB procure for its staff?

Recreational equipment and sports services

What was the focus of the ERB's ICT activities during the period under review?

Enhancing responsiveness to internal and external communication, data and information processing, and risk awareness

What strategy did the ERB formulate to enhance its operational resilience?

Risk Management Strategy

What was the primary objective of the meeting with the Energy, Water Development and Tourism Committee of Parliament?

To provide parliamentarians with updates on key developments in the energy sector

What was the outcome of the ERB's efforts to improve operational efficiency?

A structural review to improve operational efficiency

What was the total amount of license revenue collected by the ERB?

K495 million

What was the resolution rate of complaints by the ERB as of December 31, 2023?

63%

What was the ERB's target for license revenue collection?

K463 million

What was the outcome of the ERB's stakeholder engagement efforts in 2023?

A forum for members of the Energy, Water Development and Tourism Committee of Parliament

What was the increase in the ERB's resolution rate of complaints compared to 2022?

4%

What is a key feature of the redesigned website?

Simplified navigation

What percentage of approved audit assignments were completed in 2023?

89%

What is the purpose of the Internal Audit department?

To offer independent assurance to the Board of Directors and Management

How many audits were brought forward from the prior year in 2023?

1

What is the standard that the ERB aims to align its Risk Management Strategy with?

ISO 31000:2018

How often are the departmental and institutional risk registers updated?

Quarterly

What type of training programs were implemented by the ERB?

Diverse training programs for risk champions and focal point individuals

What is the purpose of the risk management training programs?

To ensure effective risk management practices

This quiz assesses knowledge on internal audit activities, assurance to the Board of Directors and Management, and compliance with laws, regulations, and standards.

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