Treasury Internal Audit Framework Revised ... - National Treasury

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Consulting Activities 6 Consulting Activities 44 Consulting services should focus on assisting management in problem solving activities, achieving the organisation’s objectives, and add value to line and senior management. The charter should include the authority and responsibilities of consulting services. 6.1 Types of Consulting Engagements The types of consulting work include the following: • Formal consulting engagements – those that are planned and subject to written agreement; • Informal consulting engagements – routine activities such as participation on standing committees, limited-life audit projects, ad-hoc meetings and routine information exchange; • Special consulting engagements – participation on dedicated teams such as a merger and acquisition team or system conversion team; and 44 ISPPIA 1000 71 Internal Audit Framework
• Emergency consulting engagements – participation on a team established for recovery or maintenance of operations after a disaster or other extraordinary business event, or a team assembled to supply temporary help to meet a special request or unusual deadline. Objectives, scope and limitations of the consulting assignment should be confirmed in writing in an engagement letter. The responsibilities of both management and the IAA should be defined and documented in the engagement letter that should be signed by both parties. The IAA should obtain an understanding of the nature of the engagement to clearly articulate the terms of reference. Agreed upon procedures should be documented in the engagement letter and agreed upon with the client. In the conduct of the assignment, the IAA should perform the procedures as outlined in the engagement letter. All working papers prepared during the execution of the consulting engagement should be kept as evidence of conducting the procedures. National Treasury 72
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Internal Audit Framework
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The Internal Audit Framework is bei
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2.5 Composition and Membership.....
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5.1.4 Engagement Resource Allocatio
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• Be Public Service specific and
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government. It is important that bo
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Both the PFMA and MFMA make provisi
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1.3.2.5 Internal control processes
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1.4.3 Criteria of Control (CoCo) 6
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2 Audit Committee (AC) 2.1 Introduc
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a management responsibility, manage
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• Monitor management’s implemen
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strategic objectives and overall co
Page 27 and 28: • AC members should not serve mor
Page 29 and 30: National Treasury the CAE, EA and t
Page 31 and 32: o The effectiveness of the interna
Page 33 and 34: much of the guidance required by IA
Page 35 and 36: the co-operation of the audit clien
Page 37 and 38: 3.2.3 The IA Charter 13 An IA chart
Page 39 and 40: 3.4 Developing an Internal Audit St
Page 41 and 42: The analysis: • Assesses the effe
Page 43 and 44: • Establish the timing of perform
Page 45 and 46: 3.5.1.2 Cyclical audits IAA may dec
Page 47 and 48: descriptions, clear goal setting, p
Page 49 and 50: operation to ensure that they are c
Page 51 and 52: There should be access to each othe
Page 53 and 54: IAA must be satisfied that the orga
Page 55 and 56: Preventive Controls A preventive co
Page 57 and 58: • Compliance with other generally
Page 59 and 60: acceptable operational practices an
Page 61 and 62: 5 Audit Process The audit process i
Page 63 and 64: 5.1.3 Engagement Scope 29 The scope
Page 65 and 66: The audit program must be compiled
Page 67 and 68: The IAA should document the informa
Page 69 and 70: The design and content of the worki
Page 71 and 72: 5.2.5 Engagement Supervision 36 Sup
Page 73 and 74: and/or conclusions. Recommendations
Page 75 and 76: 5.3.5 Disseminating Results 42 Enga
Page 77: • Verification of the response; a
Page 81 and 82: activities that significantly affec
Page 83 and 84: • Seek any information it require
Page 85 and 86: Internal Control • Consider the e
Page 87 and 88: • Review any other reports that t
Page 89 and 90: identified during audits and, commu
Page 91 and 92: projects, ad hoc meetings and routi
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Treasury Internal Audit Framework Revised ... - National Treasury

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