Key Functions

Definition of Audit

An independent examination with a view to establishing accuracy, conformity to laws and administrative rules and regulations, performance, and truthfulness.

NOTE - The basic object in auditing is not therefore the detection of fraud, however if fraud is detected to report to the appropriate authority

Types and Components of Audits:

  1. Compliance Audit - To assess the Level of compliance and conformity to Government’s Rules and Regulations, General Orders, Departmental policies, procedures and practices
  2. Financial Audits - To examine the financial transactions/records to ascertain whether they were relevant, accurate, complete, and fairly presented.
  3. Value-For-Money Audits - To assess whether Government received equal value for monies spent; the resources allocated to the project through cost effectiveness giving regards to Economy, efficiency and effectiveness
  4. Performance - To evaluate and appraise the overall management of Government Resources in keeping with the Department objectives and purpose
  5. Comprehensive - Encompasses all of the above

The Secretariat section deals with all office matters - correspondents, typing, office inventory, messages, stationeries, petty cash and the likes.

PROJECT SECTION:

Responsibilities: - to conduct Performance Audit of Government Capital Projects, and Value-For-Money and Special Audits, and to report the findings to the Auditor – Projects/VFM for onward transmission to the Director and given corrective control measures to mitigate risks of mismanagement and fraud.

Project's Section for Capital projects Objectives: -

  1. To monitor the project throughout its life cycle (progress reports)
    • To determine compliance to Government Financial Rules and Regulations and Contract's Specifications and Clauses
    • To verify that the actual work activities are being executed correctly according to design specifications and the works are progressing on time.
  2. To evaluate the project's performance (for final report)
    • To determine whether the project went through the normal Gov’t Contractual process which include: tendering, analysing of bids, and approval & awarding of contract
    • To determine whether the project was completed within budget, within timeframe, and according to Contract Specifications.
    • To access whether government received equal value for money spent on the projects, and the project objective was met (the end product is exactly as the final design - projected vs. actual)

Objectives for Project’s Section Value-For-Money Audits: -

  1. To ascertain that Government receive due/equal value for monies spent for a project through economy in procuring, efficiency of the processes, effectiveness of the purpose/objective of the project, and
  2. To determine what social, educational, and or cultural impact of such a project on society.

Objectives for Project’s Section Special/Investigative Audits: -

  1. To examine an organization's or individual's economic affairs, resulting in a report designed especially for use in a court of law, to unearth the truth to be admissible/permissible in court.

FINANCIAL SECTION:

This section is divided into three (3) subsections, namely, the treasury, the customs and the outside sections.

The Treasury Section

Responsibilities: - to express an opinion as to whether the financial statements presented by the Accountant General gave a true and fair view, in all material aspects of the financial position of the Government of Dominica, that appropriate internal control systems exist and were adhered to, and that the financial statements were in accordance with Finance Administration Act No. 4 of 1994.

KRAs Treasury Section:

  1. To audit the Treasury Department Financial Records for the year
    • Examine salaries, expenditure vouchers, treasury main cashbook, treasury bills, monthly reconciliations, and Crown Agents
    • Verify SMARTStream Transactions

 

 OUTSIDE SECTION:

Responsibilities: - to examine the records of the Revenue collecting Divisions of Government in particular the Customs and Excise Divisions, Inland Revenue, Registry, Magistrate Court, Post Office, village Councils etc.

Objectives Outside Section:

  • Verify all receipts of revenue and ensure that the normal procedures and practices are followed
  • Verify that all monies collected are lodged at the Treasury Department
  • Verify expenditure payments and ensure that all normal procedures and practices are followed

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