INTERPRETATION

The Internal Audit Bureau (IAB) will not have any operational responsibility or authority over any activities audited.  IAB will not implement internal controls, develop procedures, install systems, prepare records, or engage in any other activity that may impair internal auditor’s judgment.
Internal audit two main types of services:

• Assurance services involve objective assessment of evidence to provide an independent opinion or conclusions regarding an operation, function, process, system or other subject matter. IAB determines the nature and scope of the assurance engagements.
• Management consulting services are advisory and are generally performed at the specific request of management. The nature and scope of the consulting engagement are subject to agreement with management. It is important to note that while performing a consulting engagement, the internal auditor must maintain objectivity and independence and, therefore, cannot assume any management responsibility.

Audit examinations will utilize the following guidance as appropriate:

• The Institute of Internal Auditor’s International Professional Practice Framework for operational audits in assessing governance processes, risk management, and internal controls;
• Association of Certified Fraud Examiners for forensic audits;
• Information Systems Audit and Control Association for information technology audits; and
• Project Management Institute for project management audits.

Deputy Heads are accountable for all internal controls by conducting ongoing planning, control, and reviewing their operations.  Managers are to establish, maintain, and regularly review all processes, systems, and procedures within their control to ensure that their operations are efficient, economical, and effective.

Deputy Heads will take steps to deter fraud, negligence, impropriety, mismanagement, and loss of assets.

The IAB auditors have access to all GNWT records, personnel, and physical property relevant to the performance of audit engagement.  IAB auditors have access to all relevant information under the:

• Access to Information and Protection of Privacy Regulations, Section 7; and
• Financial Administration Act, Section 39.