Internal Audit

This Unit will perform the following functions: -

• Advise on internal control and accounting procedures of LITA;
• Carry out periodic reviews on the completeness and accuracy of accounting records throughout the Agency and observe appropriate undertakings of standard practices and procedures;
• Prepare and implement annual audit work plan;
• Audit all LITA accounts and carry out performance audit;
• Check the effectiveness of the budgetary control systems;
• Advise the Agency on measures to reduce expenses and increase income;
• Verify audit report in collaboration with External Auditor In-charge;
• Discuss audit report with Management and give opinion on findings;
• Examine financial documents and operations of the Agency and report on a quarterly basis to the Audit Committee;
• Identify areas with high risk, prepare risk register and risk management-plan;
• Formulate manual and policies in respect of internal audit functions and issue of professional and administrative guidance in that respect;
• Undertake special audit investigations and make sound suggestions to the Audit Committee or the Principal;
• Evaluate effectiveness of all administrative matters in order to ascertain to what extent resources are being utilized and adhered to Regulations and Procedures;
• Prepare unit budget and audit reports; and
• Advise the Principal on all matters related Agency’s resources in accordance with legislations governing finance, procurement and human resource