The Internal Audit Department – responsible for overseeing government processes – has adopted a newly revised document that governs its purpose, roles, scope and services.
The Internal Audit Charter was formally approved by the department’s governing body, the Audit Committee, following a comprehensive review, and was officially implemented on 29 August.
Before adoption, the charter went through an alignment process with the 2024 Global Internal Audit Standards (GIAS), issued by The Institute of Internal Auditors Inc, and other best practices.
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The document will help the department to follow global standards, boost trust in its work, and improve the quality and impact of its audit services, a government press release said on 3 September.
It includes “new and enhanced elements that reflect the evolution of the role of internal audit from a compliance-oriented function to a strategic partner and trusted advisor”, the release added.
Role and responsibilities
The Internal Audit Charter is the principal governing document that establishes and articulates the purpose, authority, roles, responsibilities, scope and types of services of the Internal Audit Department.
It sets out the framework within which department operates and affirms its right of access to records, personnel and property to carry out its duties effectively.
The ‘Global Internal Audit Standards: Governing the Internal Audit Function’ stipulates that the governing body must establish, approve and support the internal audit function’s mandate.
This mandate empowers the department to provide independent and objective assurance, advice, insight and foresight to the Government of Anguilla.
The department fulfils this by bringing a “systematic, disciplined approach” to evaluating and improving the effectiveness of governance, risk management and internal control processes across the public service.
“The successful implementation of the Internal Audit Charter is a shared responsibility that requires commitment from all levels of the public service,” the press release said.
