Internal Audit (IA) Department is an independent appraisal function, established within UETCL. It operates as a service to management by measuring and evaluating the effectiveness of risk management, control and governance systems.
This function incorporates thebusiness planning processes, aids the Company Board and Audit committee in achieving business goals without undue risk.
The department is headed by Manager, Internal Audit.
Mission
To develop and formulate plans that can provide an objective and independent audit to improve on the efficiency and effectiveness of Company operations through mitigating risk and improving on governance processes.
Mandate
To develop, plan and implement policies and procedures for internal audit function and provide an independent appraisal function by progressively reviewing activities of the Company.
Objectives
To promote an effective risk management system and perform Internal Audits of high quality based on a business risk focused approach.
To provide full coverage of all auditable areas and continuously perform such audits and assignments that will add value to the Company
To initiate, develop and implement strategic plans in accordance with the overall Corporate Business Plan of the company.
Develop an annual audit plan including periodic updates involving risks and controls identified by Management and Audit Committee.
Develop an anti fraud and corruption strategy in accordance with the Company policies, laws and regulations
Develop programs which promote teamworking within the company so as to improve individual and interpersonal skills of workers.
Adhere to professional internal auditing standards and constantly upgrading with changes in professional practice.
