Internal Audit and Control Section
The Internal Audit and Control Section at the college is an administrative unit responsible for monitoring and evaluating financial and administrative performance to ensure compliance with laws and regulations. It reviews financial operations, such as expenditures and salaries, audits records and warehouses, and submits periodic reports to senior management to support decision-making and performance improvement, with a focus on achieving transparency and safeguarding public funds.
Responsibilities of the Internal Audit and Control Section:
1. Financial and Administrative Auditing:
- Examining and auditing financial transactions prior to disbursement.
- Reviewing salaries, advances, and financial entitlements.
- Conducting periodic audits of college accounts, including the Higher Education Fund.
2. Compliance Monitoring:
- Ensuring all activities align with applicable laws and regulations.
- Following up on the implementation of recommendations from previous audit cycles.
3. Risk Management:
- Identifying potential risks and assessing their impact.
- Developing strategies to mitigate and manage risks.
4. Inventory and Asset Management:
- Monitoring and managing warehouse movements.
- Conducting periodic physical counts of inventory and cash (stocktaking).
5. Reporting:
- Preparing comprehensive reports on audit findings and recommendations.
- Submitting reports to the College Dean or the University President.
