Internal Audit (IA) is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.

Internal Audit is responsible to assess the effectiveness of risk management, control and governance processes and to provide insight and recommendations that can enhance these processes, particularly relating to:

• Effectiveness of operations;
• Reliability of financial management and reporting; and
• Compliance with laws and regulations.
• IA may also involve conducting fraud investigations to identify fraudulent acts and conducting post investigation fraud audits to identify control breakdowns and establish financial loss.
• Evaluating control design and recommending best practice / tailored controls that serve best to the organization needs and requirements.

The objective is achieved by

• Performing risk based internal audits as per annual audit plan.
• All payable transactions compliance review real time.