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Internal Audit Manual
Internal auditing is defined as “an independent, objective assurance and consulting activity designed to add value and improve an organisation’s operations” IAA (2015). It assists the University in accomplishing its objectives by bringing a systematic and disciplined approached to evaluate and improve the effectiveness of risk management, control and governance processes.
Internal Audit department mandate
The authority of the internal audit department is derived from the University Council. Its functions, activities and operations are defined in an internal audit charter. The University Council by policy establishes and supports the Internal Audit function.
Purpose and use of Internal Audit manual
The Internal Audit manual has been customized to the university’s policies and guidelines with regard to: financial, operational and compliance aspects as a one stop centre for all internal audit activity. The different policies, procedures and guidelines that have been encompassed into this manual include; Internal Audit Charter, Audit Committee charter, Code of ethics, Audit standards and a step by step process of undertaking audits from risk assessment to production of an audit report. Diagrams and process flow charts have been included to make it easier to follow. In developing the audit manual, consultations were made within the university structures, other universities within Uganda and abroad and reference was made to best internal audit practices.