Treasury Internal Audit Framework Revised ... - National Treasury

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Consulting Activities The IAA should communicate issues and preliminary results of the consulting engagement with line management during the conduct of the assignment. Report to management may either be oral by conducting a meeting session with line management or written updates can be provided to management. As agreed upon in the engagement letter, the IAA should report results of the consulting activity. 6.2 Acceptance of Consulting Activities The following guidelines are provided for assisting the IAAs in accepting consulting activities: • Some consulting activities are specifically identified in the approved internal audit annual plan; • Other consulting activities are initiated by managers communicating directly with the CAE as activities happen within the organisation; • The CAE should request the Audit Committee’s approval for consulting 73 Internal Audit Framework
activities that significantly affect the approved internal audit’s annual plan; • The CAE should consider the impact of independence and objectivity on the IAA before acceptance of the consulting activities; • The CAE should consider whether the internal auditors have the requisite skills, knowledge, time and competencies to perform the proposed consulting activities; and • The CAE should consider the risks associated with the proposed consulting activities. National Treasury 74
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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
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• 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 and 78: • Verification of the response; a
Page 79: • Emergency consulting engagement
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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