FUNCTIONAL GOVERNANCE AREAS
Combined assurance ensures that there is comprehensiveness in terms of coverage, and avoidance of duplication
Mr. Geofrey Barigye
HEAD OF INTERNAL AUDIT
Within the context of the International Standards for the Professional Practice of Internal Auditing (Standards), internal audit planning involves the formulation of:
Together, the above plans serve to set out the strategic and operational roles and responsibilities that are included in the IA Charter.
As one of the good practices, IA has developed and is implementing a Strategic Plan for the department covering the period 2021/2022 to 2024/2025. The Strategic Plan is reviewed annually and updated appropriately in consultation with all key stakeholders.
It is crucial for IA to adapt to the changing expectations, remain relevant and align with the organisation’s objectives. An IA strategy is fundamental to remaining relevant as it plays a significant role in achieving the balance between cost and value, while making meaningful contributions to the Fund’s overall framework of governance, risk management and internal controls. The Strategic Plan is how the internal audit vision and mission will be pursued.
The implementation of the key strategies contained in the plan, will uphold transparency and accountability in rendering an effective IA function.
The annual IA operational plan has been developed in accordance with the Fund strategic plan.