Internal Audit and Advisory
Services
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Internal Audit
& Advisory Services (IAAS) works cooperatively with public sector
management and staff to improve the efficiency, effectiveness, economy
and accountability of public sector programs.
What Does
IAAS Do?
IAAS provides internal
audit and consulting services to management at BC's ministries and Crown
corporations. These services cover all aspects of operations and including:
- Operational audits
of ministry and Crown corporation programs and functions to help improve
efficiency and ensure governance, management and control systems are
operating effectively.
- Financial management
audits that evaluate controls over revenues and expenditures.
- Advisory services
to assist ministry and Crown corporations make change by participating
in significant initiatives and priorities, helping develop new programs,
or providing solutions to financial and business issues.
- Information system
reviews of existing or new systems, before and after implementation,
to ensure they are secure and meet ministry and Crown corporation needs.
- Investigative assignments
to assess any allegations of wrongdoing or breeches of government standards
of conduct.
- Compliance audits
which examine adherence to any contractual, regulatory and legislative
requirements governing ministry and Crown corporations.
Who Are IAAS?
IAAS are a 60-member
staff in the office of the Comptroller General, Ministry of Finance. IAAS
employees are predominantly qualified audit professionals and bring a
broad range of experience in both the public and private sectors in the
following areas:
- education;
- social services;
- commerce;
- operational and
financial auditing;
- management consulting;
and,
- municipal, provincial
and federal government.
In addition to the
varied experiences and educational backgrounds IAAS brings to each assignment,
IAAS supplements project teams with specialists in the project-related
field as well as experts in information technology.
What Do Organizations
Gain From IAAS Services?
With IAAS help, organizations
will:
- be reassured that
internal controls are working effectively;
- increase efficiency;
- reduce operating
costs;
- increase revenues;
- become more confident
that it is complying with government policies and standards, including
fraud prevention;
- increase its ability
to identify and respond to organizational risks and opportunities;
- increase staff's
skills through training; and,
- improve accountability.
What Are The Advantages
Of Working With IAAS?
When IAAS enters into
a service agreement with an organization, IAAS effectively becomes the
internal audit group for that organization.
The advantages of
this arrangement are that:
- It establishes
a direct reporting relationship between IAAS, the head of the client
organization and the client audit committee.
- It satisfies any
concerns about confidentiality because the projects' findings are reported
only to the client management team.
- IAAS takes responsibility
for managing the internal audit function, including development of audit
methodology, staffing and administration.
- IAAS gains a good
understanding of the business and establish a close working relationship
with management.
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