Beruflich Dokumente
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Yvonne McBain
Agenda 1 Introduction & Objectives 2 Internal Audit 3 Approach & Common Findings 4 Next Steps
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Objectives of todays session By the end of the session, you will: Understand what and who Internal Audit are Understand why Internal Audit do what they do Know the approach that Internal Audit takes to its reviews Learn about the common findings from previous work Know who to contact if you have a question / need advice
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Context Family Support Agency . . . Circa 14.3m annual budget Approx 106 FRCs nationwide Number of Counselling Organisations Two regional support agencies Limited number of FSA staff & resources available Primary focus is the provision of support to families However FSA also need comfort on adequacy of grantees operations & controls nationwide
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Internal Audit
What is Internal Audit? Institute of Internal Auditors definition: to provide independent assurance to Management and the Audit Committee on the effectiveness of internal controls . . . is a management function that operates by measuring and evaluating the effectiveness of controls in place.
we provide assurance and comfort we provide guidance and advice on how to improve areas we are a sounding board and are there to be consulted
CONTROL FRAMEWORK
RISKS
Family Support Agency
Assets
FAILURE !!
Consequences
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SHAREHOLDER(S)
ultimate accountability to FSA / shareholder(s)
External Audit
VBOM
line responsibility to Board
Audit Committee
independent assurance to the Audit Committee
Management / Co-ordinator
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RESPONSIBILITY
AUTHORITY
ACCOUNTABILITY
If it is to be, it is up to me. . .
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Common Findings No formal terms of reference for Boards & subcommittees Lack of awareness of Boards roles & responsibilities Inaccurate or no minutes of Board meetings retained
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Common Findings No formal terms of reference for Boards & subcommittees Lack of awareness of Boards roles & responsibilities Inaccurate or no minutes of Board meetings retained Absence of documented corporate governance policies (e.g. selection / appointment process for Board; conflict of interest etc) Inadequate segregation of duties
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Common Findings Absence of Financial policies & procedures (authorised signatory, approvers etc) Lack of evidence to support payments made / expenses claimed
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Common Findings Absence of Financial policies & procedures (including identifying who is authorised to sign / approve etc) Lack of evidence to support payments made / expenses claimed Inaccurate or no time records maintained Absence of payslips / supporting documentation for payroll
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Common Findings Absence of Financial policies & procedures (including identifying who is authorised to sign / approve etc) Lack of evidence to support payments made / expenses claimed Inaccurate or no time records maintained Absence of payslips / supporting documentation for payroll Inappropriate physical access controls over holding of cash / cheque book
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Common Findings Absence of Financial policies & procedures (including identifying who is authorised to sign / approve etc) Lack of evidence to support payments made / expenses claimed Inaccurate or no time records maintained Absence of payslips / supporting documentation for payroll Inappropriate physical access controls over holding of cash / cheque book Do any of these resonate with you?
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Next Steps. . .
Your views
What are your key challenges? Where can we help? Where would you like more guidance? Any questions?
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