ANNUAL RISK BASED INTERNAL AUDIT PLAN FOR THE FINANCIAL YEAR 2016/2017
1.0 INTRODUCTION
Internal Audit Unit is established as per the provision of section 45(1) of the Local Government Finance Act no 9 of 1982 (as revised 2000). Chunya District Council has complied with this requirement by establishing its Internal Audit Unit.
In addition, Local Authority Financial Memorandum of 2009 section 14(2) stipulates the responsibilities of an Internal Auditor in conducting the audit service to the Local Government being the preparation of Annual Risk Based Audit Plan as one of the roles of an Internal Auditor and in International Professional Practice Framework (IPPF) performance Standard 2010 which states that “The Chief audit executive must establish risk –based plans to determine the priorities of internal audit activity, Consistent with the organization’s goals
This document contains the Chunya District Council Annual Audit Risk-based Internal Audit Plan for Financial year 2016/2017.
1.1 Council’s Vision Statement:
Chunya District Council aspires to have people with good and sustainable life.
1.2 Council’s Mission Statement:
Chunya District Council with external and internal stakeholders will provide timely better and sustainable services based an available resource and the community properties in order to raise living standard of people.
2.0 MEANING OF RISK BASED INTERNAL AUDITING
Is the methodology which provides Assurance that Risks are being managed to within the organizations Risk appetite, since Management of the organization is responsible for identifying, assessing and managing risks.
Annual Internal Audit Plan was prepared with the view to enable internal audit service assist Management of the Chunya District Council to accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes as well as adding value to Chunya District Council activities.
The internal audit service will also assist the Management in identifying and managing risk in the day to day operations of the Chunya District Council financial and non-financial activities. Highly risk areas have been identified basing on the Department /sections experiences with the operations.
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