INTERNAL AUDIT UNIT

Functions
The FCDA Internal Audit was established as part of the management control tool to ensure strict adherence to government policies on the management of public funds, to safeguard the utilization of its assets, and to serve management in its (management’s) continued need to seek, and improve internal control within the FCDA, its activities, and systems.

Structure
In order to achieve these objectives, the Internal Audit Unit works through five (5) Sections. These sections are

Revenue Payroll Control
Expenditure Control
Physical Verification
Advances Control
Administrative Section.
i. Revenue Payroll Control: This section ensures that all revenue due to the Authority is collected and promptly remitted into its coffers. It ensures that controls associated with revenue generation are in place. It also advices the Authority on revenue and related matters. It is the responsibility of this section to regularly test-check that all controls relating to staff payroll are effective and bring up regular review of same for better efficiency. It is also to ensure that a “clean” payroll is in operation at all times.

ii. Expenditure Control: Checks all payments made by the Authority for works, goods and services. It has among other things, the responsibility of ensuring that payments are made only to bonafide payees and according to laid down government procedures and regulations. Queries based on legitimate observations for corrections, and/or action, are raised by this Section and passed through to the Head of Internal Audit for the appropriate Department.

iii. Physical Verification: The section is charged with the monitoring of projects in order to achieve efficiency and economy in the execution of public projects and services. It also ensures that goods/supplies delivered to the Authority are in good working condition, conform to specifications, and are secure in the Authority’s stores in line with the government Financial Regulations. The verification of the Authority’s physical Assets including additions and legitimate subtractions also falls within the purview of this Section.

iv. Advance Control: This section ensures that all Cash Advances granted are adequately covered by relevant approvals, prudently utilized, and appropriately accounted for. It ensures that the Loan/Advances granted to staff are duly documented and recoveries strictly effected. It also monitors the maintenance of comprehensive and up-to-date records.

V. Administrative Section: The staff of this section carry out all the administrative duties of the Unit e.g. Nominal Roll, Staff Welfare, Promotion/Discipline, etc.