Internal Control: Internal Audit Charge

CHARGE OF THE HEAD OF INTERNAL AUDIT WITH RESPECT TO THE INTERNAL AUDIT FUNCTION

Head of Internal Audit shall have the following responsibilities with respect to the internal audit function:

• To formulate policy, Internal Audit Charter, Audit Manual, Audit Technique, Audit Guideline, Audit Program to update the Internal Audit System and present to the Audit Committee.
• Give advice on financial, operational, risk management, compliance, internal control matters as required and the evaluation of effectiveness of existing policies and give recommendation for improvement.
• To see the overall administration of Internal Audit Department.
• To formulate Annual Audit Plan in consultation with management to take approval from the Audit Committee and implement the Annual Audit Plan.
• To review and finalize the draft report submitted by Audit Managers.
• To arrange Audit Review Committee's Meeting as a member of the committee in every month and Departmental Meeting to discuss the issues of Internal Audit Department.
• To advise and supervise the work of the Audit Managers/Senior Audit Officials and to provide general advise and support to assist with the development.
• Periodic reports on a timely basis to the Chairperson/Audit Committee/ED/MD summarizing results of audit activities.
• Presentation to the Chairperson/Audit Committee/ED/MD/Top Executives on core issues in time.
• To arrange recruitment of Audit Officials. Evaluate the performance of the Audit Officials and recommended for increment/confirmation/promotion.
• Presentation to Foreign Delegates, External Auditor, International Auditor and Evaluation Team about the activities of Internal Audit Department, Internal Control System and Risk Management of BRAC and provide information as per their necessity.
• Class Room Training to Audit Officials and arrange other trainings for professional development.
• Internal Audit and Risk Management Services to Asian University for Women, Chittagong and BRAC University.
• Financial Advice to other NGOs as per requirement and financial, internal control and risk management capacity building to PNGOs of BRAC.
• Training and presentation to program management for compliance of audit observation.
• The review of the application and effectiveness of risk management procedure and risk assessment methodologies of various programs and activities of BRAC.
• The examination and evaluation of the adequacy and  effectiveness  of Internal Control Systems of Microfinance, Health, Education Program, Program Support Enterprises and Commercial Programs  and activities of BRAC.
• Finalize the meeting minutes.
• Assist in investigation and examination of significant suspected fraudulent activities and notify Audit Committee/ED/MD.