Effective: December 15, 2025
Section: Risk Management
Administrator: Office of the Comptroller General
Applicability: GNWT Departments and Public Agencies

POLICY

The Government of the Northwest Territories (GNWT) maintains an Internal Audit Bureau (IAB) to provide independent, objective and risk-based assurance and advisory services that add value and improve operations. The IAB operates in conformance with the Institute of Internal Auditors (IIA), Global Internal Audit Standards (2024) and under a Charter recommended by the Internal Audit Committee and approved by the Financial Management Board (FMB).

PURPOSE

To support an effective and independent internal audit function that provides assurance and advisory services through a systematic and disciplined approach to evaluating and improving risk management, internal controls, and governance processes across the Government of the Northwest Territories.

SCOPE

This policy applies to all assurance and advisory services carried out by the Internal Audit Bureau for GNWT Departments, Public Agencies, and other reporting bodies as authorized under the Financial Administration Act.

RESPONSIBILITIES

Financial Management Board

• Establishes the mandate and develop terms of reference for the Internal Audit Committee.
• On an annual basis, receives reports from the Internal Audit Committee on governance, risk management, and internal control.
• Approves the Internal Audit Charter and financial management policies related to internal audit.

Comptroller General

• Chairs the Internal Audit Committee.
• Approves interpretation bulletins associated with this policy.
• Ensures the internal audit function has the independence, access, and resources required to fulfill its mandate.

Internal Audit Committee

• Provides oversight of the internal audit function as set out in Interpretation Bulletin 206.01.
• Reviews and recommends the Internal Audit Charter and the annual risk-based audit plan.
• Monitors the performance, results, and independence of the Internal Audit Bureau.

Deputy Heads

• Ensure the Internal Audit Bureau has unrestricted access to all documents, systems, staff, and information necessary to conduct internal audit work.
• Respond to internal audit recommendations and requests for information in a timely manner.

Internal Audit Bureau Director

• Provides administrative and secretariat support to the Internal Audit Committee.
• Ensures internal audit activities are conducted in conformance with the IIA Global Internal Audit Standards and the Internal Audit Charter.

AUTHORITIES and REFERENCES

• Financial Administration Act, Sections 7 and 37–41
• IIA Global Internal Audit Standards (2024)

INTERPRETATION BULLETINS.
•    IB 206.01 – Audit Committee Terms of Reference
•    IB 206.02 – Internal Audit Bureau Charter