Internal Audit
An internal audit is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluating and improving the effectiveness of risk management, control, and governance processes.
Audit Unit in the Bayelsa State Ministry of Works and Infrastructure
Here are the primary functions of the audit unit, tailored to the ministry’s activities:
- Monthly Bank Reconciliation and Cash Counts: Ensuring that the bank statements align with the ministry’s cash records monthly. This is crucial for maintaining financial accuracy and transparency in handling public funds allocated for infrastructure projects.
- Certification and Approval of Payment Vouchers: Reviewing and approving all payment vouchers, whether internal or external, before they are processed for payment. This step is vital to ensure that funds are disbursed appropriately and only for approved projects and expenses related to the ministry’s operations.
- Quarterly Fixed Assets Checks: Conducting thorough checks on all fixed assets of the ministry once every quarter to ensure proper management and accountability of equipment, machinery, and other assets used in infrastructure development.
- Issuing Special Audit Reports: Producing special audit reports on areas of irregularities and weaknesses in accounting procedures to identify and address issues promptly. This helps in mitigating risks and improving the ministry’s financial practices.
- Providing Monthly Audit Reports: Preparing a comprehensive monthly audit report for the ministry and submitting a copy to the accountant general for review. This ensures ongoing oversight and enhances the accountability of financial activities within the ministry.
These functions are essential for ensuring that the Bayelsa State Ministry of Works and Infrastructure operates with integrity, efficiency, and transparency, thereby fostering trust and confidence among the public and stakeholders.Message Copilot
