Internal Audit

To be recognised as an innovative, trusted and independent service provider, occupying the driving seat for a culture of integrity, accountability, objectivity and professionalism in the management of resources and accomplishment of the Institute's overall mandate.

To provide independent, objective and advisory services designed to add value and improve the Institute's operations and promote a strong internal control environment.

To ensure accurate prepayment audit of payment vouchers before payments are made to the appropriate beneficiaries, and post-payment audit to verify the accuracy of the payments approved as stipulated by the financial regulations.

To comply with policies, rules and regulations including tax laws and extant finance circulars, also interfacing with agencies on statutory assignments to improve the Institute — such as the offices of the Auditor-General for the Federation, the Accountant-General of the Federation, and External Auditors.

To monitor expenditures to ensure conformity with approved budgetary provisions through audit of the vote books, and thoroughly examining records to validate financial returns of all intervention projects from beneficiary institutions.

To audit and certify monthly bank reconciliation statements for all the accounts maintained by the Institute, as well as generating monthly, quarterly and annual audit reports which disclose lapses and draw the attention of management staff.

To verify all procurements and items received into the store, and actively participate in physical stock taking.

Prepayment Unit

This unit is responsible for conducting an audit of all payment vouchers to ensure proper authorisation, approval, accuracy, and appropriate documentation before proceeding with payment, and also performs an audit of all accounting records to verify the accuracy of the transactions that were approved for payment.

Investigation & Risk Management Unit

This unit conducts high-level investigations of books and records, handles audit queries, and issues comprehensive audit reports. It also performs follow-up actions and evaluates risks, the effectiveness of internal controls, and the potential impact of any deficiencies in the control system.

Stock Verification Unit

This unit is saddled with the responsibility of verifying all procurements and items received into the store, and actively participates in physical stock taking activities.