The purpose of auditing internally is to provide insight into an organization’s culture, policies, procedures, and aids board and management oversight by verifying internal controls such as operating effectiveness, risk mitigation controls, and compliance with any relevant laws or regulations.
Manager: Mr Zolile Baca
Tel: 028 425 5558
Physical Address: Main Municipal Building, 1 Dirkie Uys Street, Bredasdorp 7280
The role of Internal Audit in the Municipality is to assist the Municipal Manager and the Council to meet their objectives and to discharge their responsibilities by providing an independent appraisal of the adequacy and effectiveness of the controls, risk management and governance set up by management
Internal Auditing is defined as an objective assurance and consulting activity whose main aim is to add value and improve an organisation’s operations. Internal audit evaluates the effectiveness of risk management, control, and governance processes within the organisation with the aim of recommending improvements, where necessary, so that the organisation may achieve its objectives.
provides both assurance and consulting services focusing on risk areas through the participation in corporate governance and risk management processes. It further evaluates and recommends process improvement opportunities, researching best practices and making recommendations for change. It also monitors the implementation of management strategic actions
Internal auditing may be seen more as an internal control that checks whether other controls are operating effectively to achieve the objective for which they were meant. Internal auditors are professionally trained to evaluate controls, risk management and governance processes and provide necessary recommendations for improvement.
programs are critical for monitoring and assuring that all of your business assets have been properly secured and safeguarded from threats. It is also important for verifying that your business processes reflect your documented policies and procedures and that Laws and Regulations are adhered to
Internal auditors will examine issues related to the municipality’s business practices and risks, while external auditors examine the financial records and issue an opinion regarding the financial statements of the company. Internal audits are conducted throughout the year, while external auditors conduct once a year.
The audit of most areas (other than special requests) is generally based on the annual risk assessments results, internal audit observations and inputs from management. The audit outcomes of the annual external audit are also considered.
Internal audit reports administratively (for time and attendance) to the Municipal Manager and functionally to the Audit Committee that consists of external experts in their field. This is to ensure the independence and objectivity of the Internal Audit activity.
Internal Auditing is a profession under the custodianship of the Institute of Internal Auditors (IIA), its operations are guided by International Standards of the Professional Practice of Internal Auditing (Standards). Therefore, each Internal Audit Activity required to be subjected to an external assessment conducted by an independent external assessor or assessment team from an outside organisation at least every five years to ensure that they adhere to the Standards and the Code of Ethics.
Internal auditors are required to have necessary knowledge to evaluate fraud risks and how they are managed by the organisation but are not necessarily expected to have expertise of person who specialises in fraud detection and investigation.