OBJECTIVES OF THE DEPT

  1. Assist NMS accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes. Internal Audit in its objective appraisal of operations and controls will:
  2. Determine the accuracy and propriety of financial transactions
  3. Evaluate financial and operational procedures for adequacy of internal controls and provide advice and guidance on control aspects of new policies, systems, processes, and procedures
  4. Verify the existence of NMS Company assets and ensure that proper safeguards are maintained to protect them from loss
  5. Determine the level of compliance with NMS policies and procedures, as well as applicable laws and regulations
  6. Evaluate the accuracy, effectiveness, and efficiency of NMS electronic information and processing systems
  7. Determine the effectiveness and efficiency of audited entities in accomplishing their mission and identify operational opportunities for cost savings
  8. Provide assistance and a coordinated audit effort with the external auditors

TEAM COMPOSITION

  1. Chief Internal Auditor
  2. Internal Auditor
  3. Internal Auditor – Pre audit
  4. Internal Audit Assistant
  5. Internal Audit Assistant – Pre audit

 

ACTIVITIES

Assurance services

These involve the internal auditor’s objective assessment of evidence to provide an independent opinion or conclusions regarding an entity, operation, function, process, system or any other subject matter. This aspect involves reporting to management and the board on matters that relate to

  • Governance processes
  • Risk Management Processes
  • Control Processes
  • Information Reliability and Integrity

 Consulting Services

These are advisory in nature, and are generally performed at the specific request of an engagement client.

Pre audit activities that are performed are considered to be part of consulting services.

 ACHIEVEMENTS

  • Having an audit software that reduces the amount of hard copies generated during an audit assignment.
  • Having an elaborate audit manual
  • Having an up dated Internal audit charter
  • Having qualified staff

OUR VALUES

1. Customer Focus,
2. Operational Excellence
3. Teamwork,
4. Accountability
5. Integrity

RESOURCES

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