Internal Audit Plan Example Kwazulu Natal Treasury-Books Pdf

Internal Audit Plan Example KwaZulu Natal Treasury
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Contents Page,1 Introduction 3,2 Development of Internal Audit Plans 3. 3 Co ordination and Co operation 6,4 Liaison with External Audit 6. 5 Client Expectations 6,6 Detailed Internal Audit Plan 7. 7 Operational and Strategic Internal Audit Plans 9. 8 Approval of Internal Audit Plan 11,1 Introduction. Batho Pele Local Municipality Municipality must comply with the provisions of the Municipal. Finance Management Act MFMA, Section 165 of the MFMA focuses on municipal internal audit functions and stipulates that the.
Municipality must have an internal audit function which must. Prepare a risk based audit plan for each financial year. Advise and report to the Municipal Manager and the Audit Committee on the execution of the. internal audit plan and matters relating to,Internal audit function. Internal control assessments,Accounting procedures and practices. Risk and risk management,Loss control, Compliance with the MFMA and other applicable legislation. 2 Development of Internal Audit Plans, The MFMA requires that an annual internal audit plan is prepared To facilitate effective. communication and planning we have prepared a draft risk based internal audit plan for the. financial year ending 30 June 2012, The proposed internal audit plans described below have been prepared to direct internal audit.
effort based on available and envisaged resources in terms of a risk based methodology. A risk and control assessment report has previously been prepared where management. participated in identifying key risks facing the Municipality and key control to mitigate identified. risks including risk and action owners The risk assessment constitutes an integral phase in the. preparation of the audit plans, We wish to highlight that the identification and management of risks is the primary responsibility of. Council and management, We have also taken into account the following items while preparing the attached internal audit. The need for adequate coverage vs the resources available for internal audit. Our experience in preparing and executing internal audit plans at other municipalities. The following is a diagrammatical overview of the process by which the proposed internal audit. plans were formulated,Assessment,Assurance Audit Plans Internal Audit Scope. Requirements Resource Allocation,Legislation,Requirements. In the risk and control assessment report dated 19 June 2011 risks were identified and controls. related to the risks were assessed by management In that report we noted the risks where their. controls were asserted to be well managed meaning that their current control effectiveness where. Satisfactory Good or Very and these risks should ideally be the key focus of internal audit when. applying the principal of risk based approach, The following is a listing of risks that were asserted to be well managed sorted by focus area risk.
category from the above mentioned risk and control assessment report. In the list of risks below we have also indicated next to each individual risk item our assessment. of whether that particular risk item is auditable or not i e can that risk item be effectively reviewed. by internal audit during its reviews, For each auditable risk item we have indicated above the area process business cycle in which. that risk items would be reviewed as individual risk items are not normally stand alone items but. form part of a business process cycle,Risk Risk to be included in the. Category Control Review of the Following, Risks Focus Area Effectiveness Auditable Processes Cycle. 1 Inadequate Financial Satisfactory Y Asset Management. maintenance,safeguarding of, 2 Non alignment Finance Satisfactory Y Budget Process. of budget and, 3 Inability to Finance Satisfactory Y Debtors Management.
collect revenue,due to the,Municipality, 4 Payments of Finance Good Y Supply Chain Management. services goods, 5 Inappropriate Social Satisfactory Y Land Disposal. disposal of land Services,Development,and Planning. 6 Delays in the Finance Satisfactory Y Supply Chain Management. procurement of,7 Failure to report Finance Good Y Budget Process. to relevant,stakeholders,8 Aging Technical Good Y Asset Management.
infrastructure Services,Risk Risk to be included in the. Category Control Review of the Following, Risks Focus Area Effectiveness Auditable Processes Cycle. 9 Political Office of the Satisfactory N,interference in Municipal. the Manager,administration of,the Municipality, 10 Inadequate Office of the Satisfactory Y Institutional Performance. implementation Municipal Management Systems,of PMS Manager.
11 Ineffective risk Office of the Satisfactory Y Risk Management. management Municipal,process Manager, 12 Unauthorized Social Satisfactory Y Development and Planning. development Services Management,Development,and Planning. 13 Inaccurate Corporate Good Y Council Support,recording of Services. resolutions, 14 Inadequate Social Satisfactory Y Social Programme. implementation Services Performance Audit,of social Economic.
programmes Development,and Planning, 15 Ineffective Corporate Satisfactory Y Institutional PMS. public Services,participation, 16 Ineffective traffic Technical Satisfactory Y Traffic and Safety. and safety Services Management Services, 17 Inability to Technical Satisfactory Y Waste Management. collect waste Services, 18 Inadequate Finance Satisfactory Y Project Management. monitoring of expand the scope to cover all,service projects.
contractors,19 Inadequate Office of the Satisfactory N. coordination of Municipal,strategic Manager, 20 Loss of critical Office of the Satisfactory Y Information Technology. information Municipal General Controls, The above assessment of internal audit auditable areas reveals that the following business. processes cycles should be the key focus of internal audit. 1 Asset Management,2 Budget Process,3 Debtors Management. 4 Supply Chain Management,5 Land Disposal,6 Institutional Performance Management System.
7 Risk Management,8 Development and Planning Management. 9 Council Support,10 Social Programme,11 Integrated Development Plan. 12 Traffic Management Services,13 Waste Management. 14 Project Management, However as management and the Audit Committee can appreciate if there is limited resources. budget for internal audit services internal audit may not be able to cover all the above areas in. year one In the plan below the timing and resources required to review the above internal audit. auditable areas should be discussed and agreed with management and the Audit Committee. We acknowledge that not all risks identified will be audited and or are auditable Monitoring. and management of risks is primarily a responsibility of management and as such. management are responsible to ensure that risks of the Municipality are properly identified. managed and monitored,3 Co ordination and Co operation.
It is accepted that the co operation and availability of the Municipality s personnel plays a. significant role in impacting the effectiveness and efficiency of the internal audit service Every. effort must be made to explain the purpose of internal audit to obtain the complete co operation of. departmental management and staff,4 Liaison with External Audit. In order to obtain efficiencies wherever possible it is advised that Internal Audit and or. management meet with external audit to allow them to consider and conclude on the level of. reliance that they wish to place on the internal audit work. 5 Client Expectations, Internal Audit should take cognisance of the need for. Timely issue of reports, Efficient and effective audits which react and report promptly. Reports to be discussed with management prior to being released to the Audit Committee. Liaison with external auditors,Attendance at Audit Committee meetings. 6 Detailed Internal Audit Plan, Project Details Scope of Work Anticipated Timing Budgeted Hours.
Risk Based Projects, 1 Asset Management Fixed asset recording and accounting treatment October 2011 120 hrs. Fixed asset register maintenance and control,Bar coding tagging of assets. Asset verifications,Reconciliations between the fixed asset register. and the general ledger, 2 Budget Management Process Budget compilation process March 2012 40 hrs. Budget approval,Budget control monitoring and reporting.
Management information on actual vs budget,Budget virements. 3 Debtors Management Credit Management March 2012 80 hrs. Debtors Collection,Billing Systems,Indigent Register. 4 Supply Chain Management Budget Quarterly 40 hrs,Requisition and ordering process. Receiving of goods and services,Payments process,Tendering process. Supply database maintenance, 5 Land Disposal Land Disposal Management process April 2012 80 hrs.
6 Planning and Development Applications September 2011 80 hrs. Management Approval,Monitoring, Project Details Scope of Work Anticipated Timing Budgeted Hours. Building guidelines,Town Planning Scheme,Occupational Health and Safety Act. 7 Social Programme Performance audit compare actual deliverables It will depend on the 160 hrs. against predetermined target including the level project time lines. of quality i e Housing or Roads projects Kindly,note this may require technically expertise. depending on the scope, 8 Integrated Development Plan Public Participation Policy April 2012 80 hrs. Communication Strategy,Incorporate institutional PMS Budget Process.
9 Traffic and Safety Management Applications May 2012 120 hrs. Monitoring and Review,Safeguarding,Compliance with policies and procedures. Roadworthy certificates, 10 Waste Management Waste management plan September 2011 80 hrs. Refuse removal by laws,Awareness Campaign, 11 Project Management SLA Project agreement compliance monitoring May 2012 80 hrs. Project reporting to funder,Project budgeting and planning. Project procurement,Project expenditure control monitoring.
Project performance management and,accountability, Project Details Scope of Work Anticipated Timing Budgeted Hours. 12 Information Technology General Overall management of IT June 2012 110 hrs. Controls IT security management,IT security procedures. Computer operations,Management Adhoc Request,Internal Audit should consider. management requests and make,necessary provisions,Legislative Compliance Projects. 1 Institutional PMS Municipal Indicators in the IDP Quarterly 40 hrs. Planning and Performance Alignment between the IDP SDBIP and PMS. Management Regulations 2001 PMS Policy Framework,Chapter 3 14 General Key Performance Indicators.
Existence of PMS for non section 57 employees,monitoring of performance. Compliant annual review of Section 57, 2 Risk Management Risk Management Plan December 2011 40 hrs. Monitoring and Reporting, 3 Internal Audit Follow up Follow up of internal audit reports issued during It will depend on the It will depend on. the previous financial year to review the status of implementation date number of internal audit. implementation of agreed action plan according to individual reports issued. internal audit reports, 4 Auditor General Follow up Follow up of management letter issued during Quarterly from the date the It will depend on the. the previous financial year to review the status of report was issued number of findings. progress with regards to the implementation plan issued by AG. to address matters raised by AG to avoid,recurrence.
Project Details Scope of Work Anticipated Timing Budgeted Hours. 5 Annual Financial Statements Review the AFS prior to submission to AG by August 2011 40 hrs. Review management with regards to disclosure and,compliance. 6 Loss Control Review procedures for safeguarding of assets September 2011 40 hrs. Loss Management Control,Wasteful and Fruitless Expenditure Register. 7 DORA Review compliance with DORA Quarterly 40 hrs. Monitoring grants expenditure,7 Operational and Strategic Internal Audit Plans. Operational,Strategic Plan Strategic Plan,Project Focus Area Plan. FYE 2012 FYE 2013,Proposed Areas of Coverage,Risk Based Projects.
1 Asset Management,2 Budget Management Process,3 Debtors Management. 4 Supply Chain Management,5 Land Disposal,6 Planning and Development Management. 7 Social Programme,8 Integrated Development Programme. 9 Traffic and Safety Management,10 Waste Management. 11 Project Management,12 Information Technology General Controls.
Note The scope of work and the risks to be addressed by internal audit should be determined prior to the start of the 2013 and 2014 financial. years respectively and the operational annual internal audit plans for these financial years will need to be approved by the Audit Committee. 8 Approval of Internal Audit Plan,APPROVED BY,Audit Committee Chairperson. ACKNOWLEDGED BY,Municipal Manager,PREPARED AND SUBMITTED BY. 2 Contents Page 1 Introduction 3 2 Development of Internal Audit Plans 3 3 Co ordination and Co operation 6

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