- 10 Marks
AA – Mar 2023 – L2 – Q4b – Internal Audit and Its Relationship with External Audit
Explain the functions of the Internal Audit Agency (IAA) and how it facilitates the work of internal auditors in MDAs and MMDAs.
Question
The Internal Audit Agency (IAA) of Ghana was established by the Internal Audit Agency Act 2003 (Act 658) to act as an apex oversight body for Internal Audit units working with MDAs and MMDAs. Although the Internal Audit Agency plays an important role in the country’s economy, very little is known about their operations.
Required:
As an Internal Auditor who wants to bridge this knowledge gap:
i) Explain the functions of the Internal Audit Agency (IAA). (7 marks)
ii) Explain how the IAA facilitates the work of internal auditors in MDAs and MMDAs. (3 marks)
Find Related Questions by Tags, levels, etc.
- Tags: IAA Act, Internal Audit, MDAs, MMDAs, Public Sector Auditing
- Level: Level 2
- Topic: Internal Audit and Its Relationship with External Audit
- Series: MAR 2023
