Consumer Affairs Reports
R 385
Financial Management of Parliament Act, 2009 (Act No. 10 of 2009)Chapter 7 : Audit Committee and Internal Audit Unit50. Internal audit unit |
| (1) | The Accounting Officer must establish Parliament’s internal audit unit which must conduct internal audits in accordance with the standards set by the Institute of Internal Auditors, for the purpose of maintaining consistency with internal audit functions in other organs of state. |
| (2) | The unit must prepare for the approval of the audit committee— |
| (a) | operating procedures to guide its relationship with the administration of Parliament; |
| (b) | a three-year risk-based audit plan; and |
| (c) | an internal audit programme for each financial year setting out the proposed scope of each audit. |
| (3) | The unit must report quarterly to the Accounting Officer and the audit committee on its performance against the annual audit plan. |
| (4) | The unit must— |
| (a) | be independent of the activities that are audited; and |
| (b) | have access to the financial records and other relevant information of Parliament. |
