The directorate performs the following roles in line with the Board’s strategic themes;
Internal Audit Standards
Our Mandate
The Internal Audit Standards Directorate prescribes Internal Audit procedures consistent with the provisions of the PFM Act, 2012. It also prescribes internal audit standards and policies through the International Professional Practices framework issued by the Institute of Internal Auditors (IIA) Global (responding to exposure drafts). The directorate mainstreams best practices for good governance, internal controls and risk management.
Our Function
- Prescribe internal audit procedures which comply with the PFM Act.
- Participation in the development of standards and policies through the International Professional Practices framework issued by the IIA Global (Responding to Exposure Drafts).
- Development and updating guidelines, tools and templates for Internal Audit, and audit committees in Public Sector.
- Publishing research reports on matters relating to internal auditing standards, internal controls, risk management and governance.
- Development and updating risk management policies, guidelines, manuals and templates.
- Development and review of content for online repository of eLearning materials
- Undertaking capacity building initiatives for various stakeholders implementing prescribed standards.
- Monitoring compliance of implementation of IPPF, guidelines, manuals (including following up on establishment of audit committees and implementation of audit committee guidelines in public entities).
- Engaging with PSASB stakeholders to collaborate in delivering the Board’s mandate.
- Supporting implementers in implementing and interpreting prescribed standards (Responding to queries).