10 March 2015
The OIG Audit Unit’s Quality Assurance Self-Assessment has been validated by the accounting and consulting firm, Moore Stephens International. In its report, Moore Stephens concludes that the OIG’s Internal Audit activity is ‘generally conformant’ with the Institute of Internal Auditor’s Standards for the Professional Practice of Internal Auditing. This follows an earlier Quality Assurance Review which the OIG Investigations Unit successfully passed in December 2014.
Taking into account feedback received from surveys and interviews with staff and stakeholders, Moore Stephens noted that the OIG Audit Unit had undergone significant change over the past 12-24 months, with “widely applauded positive results”. They saluted “the efforts of OIG senior management to acknowledge and address its weaknesses whilst also acting as a positive driver for change and improvement in the risk and internal control framework of the wider organisation.”
Moore Stephens also commended “the thorough and self-critical nature of the self-assessment report,” and encouraged the OIG to “make concerted efforts for completing the hiring process in early 2015”. After a recruitment surge late 2014, the OIG’s Audit Unit is currently almost at full complement.
This review is in line with the OIG Charter which states that the OIG itself is subject to periodic independent reviews to be measured against prevailing international standards and best practices. The OIG has undertaken to perform such assessments annually.