Internal Audit Agency

PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

Question

(a) Internal audit and external audit functions are critical to ensuring effective management of public resources. While the two functions lie in two separate organizations, both can co-operate and co-ordinate their functions in a manner that will promote value for money in the auditing space.

Required:

(a) Discuss four responsibilities of the:

(i) Internal Audit Agency; and

(ii) Audit Service.

(b) Explain four ways that the two institutions in question (a) can co-operate to ensure effective audit in the public sector.

Answer

Find Related Questions by Tags, levels, etc.

Tags: Accountability, Audit Coordination, Audit Service, External Audit, Governance, Internal Audit, Internal Audit Agency, Public Financial Management
Level: Level 2

Topic: The context of public financial management

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

Question

Dr. Kwame Asante has been appointed the Municipal Chief Executive (MCE) of Asantekrom Municipal Assembly. He has assumed duty early last month and has carried out a familiarisation tour of all the departments of the Assembly.
You are the Internal Auditor of the Assembly and have worked there for the past two years. During your turn of briefing the MCE, you mentioned to him that the Internal Audit Agency (IAA) exists as an apex oversight body of internal audit units working within MDAs and MMDAs. It was established by the Internal Audit Agency Act (2003) with the object to co-ordinate, facilitate and provide quality assurance for internal audit activities within the MDAs and MMDAs.
At the end of your briefing, the MCE requested for more information on the IAA, especially its functions. You were pleased with the MCE and formally welcomed him to the Assembly.
Required:
Communicate to the MCE in the appropriate form detailing out the functions of the Internal Audit Agency according to the Internal Audit Agency Act (2003).

Answer

Find Related Questions by Tags, levels, etc.

Tags: Audit Regulation, Functions, Ghana, Internal Audit, Internal Audit Agency, Oversight, Public Sector
Level: Level 3

Topic: Public sector audit

Tag (SQ): Internal Audit Agency

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

Our offerings

Community

Contact Info

Customer

Get In Touch

Tag (SQ): Internal Audit Agency

Filter by Professional Bodies

Filter by Subject

Filter by Topics

Filter by Levels

PSAF – L2 – Q15.4 – Public Financial Management Audit

Discuss four responsibilities of the Internal Audit Agency and Audit Service in public financial management.

You're reporting an error for "PSAF – L2 – Q15.4 – Public Financial Management Audit"

AAA – L3 – Q16 – Public sector audit

Detail the functions of the Internal Audit Agency as per the Internal Audit Agency Act (2003) for the Municipal Chief Executive.

You're reporting an error for "AAA – L3 – Q16 – Public sector audit"

Our offerings

Community

Contact Info

Customer

Get In Touch

admin

Pick a Form