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Tuesday, 11 August 2015 00:00

Internal audit

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Internal Audit Department of BRAC and BRAC International(BI) is committed to assist BRAC and BRAC International by providing an independent appraisal within BRAC and BRAC International to determine the appropriateness, soundness and adequacy of the organisations' accounting, financial and operational controls. These appraisals provide information and recommendations to stakeholders. In addition to the formal and regular audits, we are happy to answer questions and give advice regarding specific policies and procedures and act as consultants on internal controls.

We hope this site will provide you with helpful information regarding the Internal Audit Department and our functions. Please feel free to contact us if you have any questions, suggestions, or comments.

 

Internal Audit Charter

Internal Audit Charter provides the framework of internal audit procedures in BRAC and BRAC International. This has been approved by the Chairperson of BRAC and by the Finance and Audit Committee of BRAC. The Charter primarily aims to define and establish the following elements for Internal Audit Department (IAD) of BRAC and BRAC International:

  • The role of Internal Audit;
  • The objectives of Internal Audit Department;
  • The rules of conduct (as per guidelines of Institute of Internal Auditors);
  • The scope, authority, responsibility and accountability;
  • Reporting;
  • Independence and Professional standards;
  • Continuity and impartiality;
  • Quality assurance and improvement programme for Internal Audit

To know more about internal audit charter of BRAC and BRAC International, you may download the Internal Audit Charter from the following link:

Internal Audit Charter- BRAC
Internal Audit Charter- BRAC International

 

Core Functions of Internal Audit Department

  • Formulating and updating internal audit charter, internal audit manual;
  • Formulating audit plan, audit programme, audit guidelines, audit policies and procedures;
  • Updating internal audit system and present the same to the Finance and Audit Committee;
  • Assuring the Finance and Audit Committee, and Senior Management regarding the adequacy and effectiveness of internal control system, compliances and risk management. Advising on financial and operational risk management, compliance and internal control matters as required, evaluating adequacy and effectiveness of existing policies and controls and giving recommendation for necessary improvement;
  • Initiating and managing audits (both system audit, continuous/ periodic audit and risk based audit) to improve operations, help in managing risks, identify and communicate best practices;
  • Presenting most pertinent issues to the Chairperson/ Finance and Audit Committee/ ED/ Top Executives in-time;
  • Participating in internal audit review management committee (IARMC) by selecting and presenting issues demanding immediate attention, follow-up of decisions taken in IARMC and informing IARMC about the implementation status of decisions taken for improvement of internal control system of the respective programme or enterprise at large;
  • Presenting the operations of internal audit department to foreign delegates, external auditor, international auditor and evaluation team as required;
  • Reviewing the application and effectiveness of risk management procedures and risk assessment methodologies of various programmes and activities;
  • Assisting in investigation and inspection of significant suspected fraudulent activities and notify the Finance and Audit Committee/ED.

 

Contact

If you have any question, suggestion, comment or need further assistance, please feel free to contract -

Office of Director
Internal Audit Department, BRAC and BRAC International
BRAC Centre
75, Mohakhali, Dhaka-1212, Bangladesh
Tel: 880-2-9881265, Fax: 880-2-8823542
E-mail: This email address is being protected from spambots. You need JavaScript enabled to view it.

Read 2795 times Last modified on Monday, 05 June 2017 10:58

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