- 4 Marks
Question
Explain TWO (2) functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003, (Act 658).
Answer
The Board shall formulate policies for the Agency and shall:
- Establish appropriate structures for the effective and efficient execution of the object of the Agency.
- Secure the achievement of the object of the Agency.
- Approve plans for the development and maintenance of an efficient internal audit for bodies and institutions to whom this Act applies.
- Take reasonable and timely action on the reports submitted to it by the Director-General.
- Tags: Audit Agency, Functions, Internal Audit, Public Sector Accounting
- Level: Level 2
- Uploader: Theophilus