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Message from the Office of the Internal Auditor

Friends College Kaimosi Internal Audit function was established in the year 2019 in accordance with the Public Finance Management Act 2012 Section 73 that requires national government entities to maintain internal audit arrangements

The Internal Audit has the following mandates;

  1. Review and evaluate budgetary performance ,financial management ,transparency and accountability mechanisms and processes.
  2. Give reasonable assurance through the Audit and Risk Management Board Committee on the state of risk management ,control and governance within the College
  3. Review the effectiveness of the financial and non financial performance management systems of the college

The internal audit has positioned itself so as to enhance and protect the college value by providing a risk- based -objective assurance, advice and insight

Independence and Authority

The Internal Audit is independent and has sufficient authority to discharge its responsibilities. This is achieved through the following ways;

  1. Reporting administratively to the Accounting Officer (Principal) and functionally to the Audit and Risk Management Board Committee
  2. Being independent of programs , operations and activities that are required to be audited
  3. Having unrestricted ,direct and prompt access to all records , officials or personnel holding any contractual status and to all premises and properties of the entity
  4. Internal audit activities remaining free of influence by any element within the college including matters of audit selection ,scope ,procedure ,frequency ,timing and report content

Responsibilities

  1. Developing and implementing a flexible risk based annual audit plans taking into consideration input from Top management and approval from the Board Of Governors
  2. Developing and executing a broad, comprehensive audit program that is line with the College Strategic objectives
  3. Assessing the effectiveness and recommend areas of improvements in the College Internal Control Systems ,Risk Management and Governance Process
  4. Recommend on ways to safeguard college resources and ensure compliance with government laws ,regulations and Board of Governors policies
  5. Establishing policies for the Internal Audit Function
  6. Undertaking special assignments at the request of the Management

Goals

The Internal Audit has set to achieve the following medium term goals;

  1. Formulating an Internal Audit Strategic Plan
  2. Increasing the staff capacity and creation of awareness in the College about the Internal Audit Role as a consulting service and value addition tool
  3. Appraising the adequacy of management Corrective Actions to reduce errors and fraud while increasing compliance with laws and regulations
  4. Undertaking an Internal Audit Quality Assessment internally and externally within the recommended durations

Compliance with Professional Standards and Ethics

The Internal Audit subscribes to the guidelines and recommendations of The Institute of Internal Auditors and the Public Sector Accounting Standards Board

  1. The International Professional Practices Framework –Standards
  2. The Internal Audit Activity Charter
  3. Code Of Ethics ; Integrity , Objectivity, confidentiality and Competency

Publications

  • Audit Cycle process.
  • Internal Audit Charter.
  • Risk Management Framework Policy.
  • Annual Work plans