The PFM Action Plan (2018–2023), developed under the PFM Reform Strategy (2016–2021), provides a structured implementation roadmap for priority reform actions, with clearly defined institutional responsibilities across 14 thematic reform components. Under Component 10 of Financial Reporting, the Internal Audit and Audit Follow-up Scheme is expected to play an important monitoring role in assessing the effectiveness of internal control systems and supporting Government entities in achieving their strategic objectives. Under the Strengthening Public Financial Management to Enable Service Delivery (SPFMS) programme, the Finance Division has initiated internal audit functions in the public sector as an important component of the broader PFM reform agenda. Internal audit primarily provides independent and objective assurance and advisory services to the Principal Accounting Officer (PAO)/ Secretary of Ministries/Divisions, with a focus on strengthening internal controls, identifying and managing risks, improving governance, and enhancing the efficiency and effectiveness of Government operations.
Scheme Objective
| I. To establish a modern internal audit function in selected large spending and high-risk departments as part of internal controls using risk-based audit methods concentrating on systemic issues and providing independent and objective advice to management. |
| II. To establish a system for carrying out annual procurement post reviews and follow up of actions recommended for improving procurement and contract management. |
