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Audit Services

Internal Audit was established by the University Council. It reports to the Audit Committee of Council.

Audit Committee

Audit Committee is mandated to oversee the functioning of Internal Audit in the University. It has clear and defined Terms of Reference and meets on a quarterly basis. The Audit Committee is composed of professional, experienced and non executive members.

Services

Prior to 2010, our services were largely Pre-audit with little involvement in Post-Audit. At the beginning of 2010, there was need to strengthen Internal Audit function in the University. The need was intended to allow controls review, risk management and governance processes. These could not be achieved under full pre-audit arrangement.

Pre-Auditing

Pre-Auditing refers to an examination of documents supporting a transaction or a series of transactions before they are paid for and recorded.

On 4th August 2011, Council approved partial phase out from some pre–auditing activities in order to focus our resources to University controls review, risk management and governance processes. We developed Pre Audit Guidelines to provide guidance to both Internal Audit staff and University Units on the nature of transactions of the following pre-audit services;

  • Review of payments

We review payments with guidance following the Pre Audit Guidelines. This is intended to provide additional assurance on compliance with controls.

  • Accountability review

We review all accountabilities and make necessary recommendations. Our reviews are also guided by the pre-auditing guidelines.

  • Verification of deliveries

Internal Audit only verifies deliveries above UGX 2M or equivalent in other currencies except for food items in halls of residence, all deliveries in Bakery and Maize mill.

  • Review of Salary pay change reports

We undertake this activity although in future we intend to phase out completely from it for a Senior Human Resource Officer to undertake. We are awaiting a decision from the Ministry of Public Service to pullout.

  • Other activities

We wittiness various activities like, handovers, site works e.t.c and certify reports.

Post-Auditing

Post- Auditing refers to the review of documents or a series of transactions after the transaction has been recorded or consummated.

We provide assurance on the adequacy of controls, risk management and governance processes in the University. Our services in this regard are detailed in an Annual Audit work plan and Schedule of Planned Audit Activities for the financial year 2011/12.

Our key activities include;

• Audit follow ups

• Audit of cross cutting activities

• Audit of University Units (financial and operations audits)

• Value for money audits, systems audits

• Audit of projects

• Fraud and investigations

Our thrust in all this is to ensure adequacy and effectiveness of controls, risk management and governance processes.

Our planning process is participatory involving all Audit staff, Management at all levels and Audit Committee. The annual audit plan is approved by the Audit Committee.

Staffing

To properly execute our mandate and services requires qualified, experienced and skilled Audit Staff. The staff undertake various capacity building programs including professional training, workshops and seminars. We also internally provide supervision and guidance in a number of areas. All these are intended to equip and update staff with current and best audit practices.

Last Updated on Tuesday, 28 February 2012 08:39
 

FIND US

Address: 3rd Floor, Main Building
Tel: +256 414 532 475
Email: audit@ia.mak.ac.ug
Website: www.ia.mak.ac.ug