Section 18A: Internal audit

18A. Internal audit (1) The Ministry responsible for the subject of finance shall provide oversight and leadership functions for internal audit in Ministries, Departments or Divisions, through the Internal Control Cadre. (2) The Director, Internal Control shall ensure that internal audit functions are carried out in accordance with the Internal Audit Policy and Operations Manual. (3) The Director, Internal Control shall, in respect of each Ministry, Department or Division – (a) prepare, in consultation with the accounting officer, an annual internal audit plan; (b) ascertain that effective systems of internal controls are in place to safeguard public funds and assets and minimise incidences of fraud, waste and misuse of public funds; (c) evaluate the effectiveness of governance, risk management and controls processes; (d) review the efficiency of operations and service delivery; (e) ascertain that the operations are administered in accordance with relevant laws, regulations and other requirements; (f) issue internal audit reports and recommend remedial measures to accounting officers; (g) promptly alert the Financial Secretary whenever a major weakness in a system is identified or an irregularity or a fraud is detected; and (h) follow up on any actions taken by accounting officers on shortcomings highlighted in the Reports of the Director of Audit and Internal Audit and report thereon to appropriate authorities. (c) in the Schedule, by deleting the following item – Smart City Scheme Social Fund