Title Reference Status Date Internal Audit Department Charter

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1 INTERNAL AUDIT DEPARTMENT CHARTER January 2014

2 Document control Title Reference Status Date Internal Audit Department Charter Version 0 Developed in NITA in Internal Audit Department Draft 1 Version 1 Circulated to management and comments incorporated Revised Draft 1 Version 1 Adopted by Audit & Compliance Committee Final Approved Version 1 Approved and adopted by the Board 2nd Jan th Jan th Jan th Jan 2014 Contents FOREWARD... ii PREFACE NITA Vision NITA Mission NITA Core Values Vision of NITA Internal Audit Mission Of NITA Internal Audit Core Values of Internal Audit Purpose Scope of Internal Audit Responsibilities of Internal Audit Department Responsibilities of NITA Management Authority Independence International Standard of Internal Audit Practice Code of Conduct... 6

3 FOREWARD The Management provides the first line of defence through the systems they put in place. The management hence is supposed to design and ensure proper operation of systems. The Board provides the second line of defence through ensuring that management operate these systems and also take action in case the systems are not properly operated. However Internal audit provides third line of defence by reviewing the systems and recommending areas of improvement. The department is also in charge of risk management process which will help the organization puts in place proper mitigation measures and prevents undesired occurences. This charter has been put in place to guide work of internal audit and also direct management on what is required to ensure proper internal audit. This charter is in line with International standards on internal audit and gives a professional guide in line with institute of Internal Auditors. The Board has pleasure to put in place this charter that will help management and internal audit ensure proper systems and conducive working environment in provision of oversight. PREFACE NITA became a state corporation in line with Industrial Training Amendment Act no. 34 of The Authority has been in operation for more than two financial years. Internal Audit provides key advice to management and helps to ensure that our systems are properly designed and operated in line with what the management desired. To ensure that Internal Audit is properly conducted, the charter provides how Internal Audit will relate with management. It also ensures that management provide a conducive environment in which internal audit work will be carried out. I would urge management and all staff to ensure that they internalize this charter and work in line with its requirements. You are also at liberty to provide suggestions on how the charter can be reviewed in line with changing requirements for proper governance. DIRECTOR GENERAL CHAIRMAN OF THE BOARD ii 1

4 1. NITA Vision A globally competitive and adequate workforce for industrial development 2. NITA Mission To provide quality industrial training for enhanced productivity 3. NITA Core Values Integrity Creativity and innovation Team work Results oriented Stakeholder participation 4. Vision of NITA Internal Audit Proper, efficient and effective management which will ensure NITA becomes a self-sustaining lead agency that spearheads integrated industrial training for development. 5. Mission Of NITA Internal Audit To work with NIT Board, Director General, Management, staff, donors and employers to ensure NITA achieves set objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, internal control, and governance processes. 6. Core Values of Internal Audit Integrity Objectivity Credibility Openness Creativity Accountability Transparency Openness Team work Innovation Reliability Confidentiality Competency 7. Purpose The main objective of the internal audit activity is to determine whether the Authority s network of risk management, controls, and governance processes, as designed and represented by the management, is adequate and functioning in a manner to ensure: y Risks are appropriately identified and managed y Interaction between various governance processes occurs as needed y Significant financial, managerial and operating information is accurate, reliable and timely y The set mandates of the Authority are exercised and set objectives at all levels are achieved. y Employees actions are in compliance with policies, standards, procedures, and applicable laws and regulations y Resources are acquired economically, used efficiently, and are adequately protected y Programmes, plans and objectives are achieved y Requirements and agreements with funding partners are met y Legislative or regulatory issues impacting on the Authority are recognized and addressed properly Opportunities for improving management control and Authority s image may be identified during audits, and they will be communicated to the appropriate level of management. 8. Scope of Internal Audit The scope of Internal Audit Department encompasses the examination and evaluation of the adequacy and effectiveness of NITA governance, risk management processes, system of internal control structure, and the quality of performance in carrying out assigned responsibilities to achieve the NITA stated goals and objectives. This will include: y Review and monitor network of risk management to ensure that risks are appropriately identified and managed. y Review governance processes to ensure that interaction with various governance groups occurs as needed. y Review policies, plans, procedures, laws and regulations that could have a significant impact on operations to determine whether the organization is in overall compliance. y Reviewing the reliability and integrity of financial and operating information and the means used to identify, measure, classify, and report such information. y Reviewing the systems established to ensure compliance with those policies, plans, procedures, laws, and regulations which could have a significant impact on operations and reports and whether the organization is in compliance. y Reviewing the means of safeguarding assets and, as appropriate, verifying the existence of such assets. y Reviewing and appraising the economy, efficiency and effectiveness with which resources are employed. y Reviewing operations and programs to ascertain whether results are consistent with established objectives and goals and whether the operations or programs are being carried out as planned. 2 3

5 9. Responsibilities of Internal Audit Department The Internal Audit Department will: y Conduct work in accordance with the Standards for the Professional Practice of Internal Auditing and Code of Ethics promulgated by the Institute of Internal Auditors as well as other professional auditing standards that may be applicable. y Annually develop and execute a work plan that is reviewed and approved by the Director General and Audit Committee. y Maintain a professional audit staff with sufficient knowledge, skills, experience, and professional certifications to meet the requirements of this Charter. y Provide management with a preliminary written report of the results and recommendations of each audit, analyses, review or investigation performed. Final report containing management s response to recommendations will be issued to the Director and will be distributed to applicable members of management and the audited units. Final audit report with an executive summary will be issued to the audit committee and summary of all audit reports made quarterly. y Follow up on management s response to Internal Audit s recommendations to determine if agreed upon internal control improvements have been implemented. Reports of management s action will be distributed to the Audit Committee. y Coordinate audit efforts with independent or external auditors as well as any examinations performed by regulatory agencies. y Investigate known or suspected acts of fraud involving Organization funds, property and employees in coordination with the NITA appropriate internal legal counsel y Follow up on all external auditors, or regulatory reports and recommendations. y Conduct special reviews or studies as requested by the Board or the Audit Committee. y Meet with the Audit Committee at least quarterly to discuss work plan activities and findings. Identify significant departures from the approved work plan and reasons. y Every quarter submit a report to the Audit Committee summarizing the results of audit activities and identifying significant audit findings and recommendations. 10. Responsibilities of NITA Management The internal audit review and appraisal of processes does not in any way relieve other persons in the organization of the responsibilities assigned to them. Responsibility for designing, complying with policies and procedures as well as correcting deficiencies rests with the respective administrators and management. NITA management will: y Provide the Internal Audit staff with full support and cooperation at all levels of operations. y Provide the Internal Audit staff complete access to all records, property and personnel relative to the performance of their duties and responsibilities. y Ensure the Internal Audit Department has an adequate budget and staffing to perform its responsibilities. y Provide a written response to all Internal Audit reports submitted. y Put in place a mechanism for tracking implementation of actions stated in the responses. y Promptly inform the Internal Audit staff of known or suspected cases of a criminal nature involving Organization funds, property and employees. y Annually participate in the review and revision of the Internal Audit Charter as necessary. 11. Authority The Manager, Internal Audit and staff of the Internal Audit Department are authorized to: y Have unrestricted access to all functions, records, property, and personnel with stringent regard for safekeeping and confidentiality. y Have access to records of all employers as well as third parties performing services delegated to them by NITA. y Have access to contracted third parties in accordance with contractual terms. y Have full and free access to the Audit Committee. y Allocate resources applicable to Internal Audit Department, set frequencies, select subjects, determine scopes of work, and apply the techniques required to accomplish audit objectives. y Obtain the necessary assistance of personnel in units of the organization where they perform audits, as well as other specialized services from within or outside the organization. Documents and information given to Internal Audit will be handled in the same prudent manner as by those employees normally accountable for them. The Manager, Internal Audit and staff of the internal audit unit are not authorized to: y Perform any operational duties for the organization or its partners. y Initiate or approve accounting transactions external to the internal auditing department. y Direct the activities of any organization employee not employed by the internal audit unit, except to the extent such employees have been appropriately assigned to auditing teams or to otherwise assist the internal auditors. 4 5

6 12. Independence To permit the rendering of impartial and unbiased judgment essential to the proper conduct of audits, Internal Audit will be independent of the activities it audits. Internal Audit will not have direct responsibility for, or authority over, any of the activities reviewed and will not engage in activities which would normally be reviewed by internal auditors. This directive will not preclude Internal Audit s proactive involvement with management in planning processes, management bodies, committees or special assignments that have been approved by both the Director General and Audit Committee or senior management. The Manager, Internal Audit reports functionally to the Audit Committee and administratively to the Director General. Whenever need arises the Manager, Internal Audit can communicate with Chair person of the Board through the Chair of the Audit Committee. The Audit Committee of the Board will review and concur in the appointment, replacement, reassignment or dismissal of the Manager, Internal Audit. This organizational structure is designed to allow the Internal Audit Department to be independent and to effectively accomplish its purpose. 13. International Standard of Internal Audit Practice The Department will meet or exceed the International Standards of professional Practice of internal Auditing of the institute of Internal Auditors (IIA), Information Systems Audit and Control Association (ISACA) and those of the Institute of Certified Public Accountants of Kenya (ICPAK). 14. Code of Conduct An Auditor is expected to be of the highest ethical and moral standard. Further, he or she must comply with the following: y Code of Conduct of the Authority y Code of professional Standards and Ethics of the Institute of Internal Auditors y Code of professional Standards and Ethics of a professional association that he or she is a member y The laws of the country, including the Public officers Ethics Act, the official secrecy Act, the Economic Crimes Act. 6 7

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