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Internal Audit 3-Year Rolling Plan: Ensuring Governance and Compliance

This presentation outlines the legal mandate under PFMA section 51(1)(a)(ii) and Treasury Regulations section 27 for the internal audit function, which is currently outsourced until 2015. The 3-year rolling plan is based on a risk assessment and focuses on key areas such as governance, compliance, financial reporting, IT, financial discipline, supply chain management, and performance objectives. The audit plan is risk-based, with a strategic focus on organizational risks and compliance with laws and regulations.

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Internal Audit 3-Year Rolling Plan: Ensuring Governance and Compliance

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  1. 1. INTERNAL AUDIT – 3 YEAR ROLLING PLAN

  2. FPB PRESENTATION TO THE PORTFOLIO COMMITTEE FOR HOME AFFAIRS, 07 MAY 2013

  3. LEGAL MANDATE • PFMA section 51(1)(a)(ii) • Treasury Regulations section 27 • Internal audit outsourced • Current service provider term from 2012 – 2015. • The risk assessment was used as basis to develop the internal audit 3 year rolling plan

  4. Key areas identified for audit for next 3 years (12/13 – 14/15) • Governance, Compliance and Financial reporting; • Knowledge and Information Management; • Information Technology; • Financial Discipline Review; • Supply Chain and Expenditure Management; and • Performance against predetermined objectives. - Audit is risk based - 3 year audit plan attached

  5. Strategic Organisational risks

  6. 2. Compliance with laws and prescripts

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