Internal Audit Division
Introduction Internal Audit Division
The Internal Audit Division of the Buddhist and Pali University of Sri Lanka functions under the Assistant Internal Auditor, who reports directly to and is responsible to the Vice-Chancellor of the university.
Internal Audit Division is carried out independent appraisal functions to examine and evaluate university activities as a service to university management. The Internal Audit Division will report on the adequacy of internal controls, the accuracy and propriety of transactions, the extent to which assets are accounted for and safeguarded and the level of compliance with institutional policies and government laws and regulations.
Objectives of Internal Audit
The main objectives of Internal Audits are clearly mentioned under FR 133(I). Internal audit is a supporting process to enhance the operational process and overall performance of the organization.
Vision & Mission
Vision Statement: To be an indispensable partner in promoting good governance, financial integrity, and operational excellence within the Buddhist and Pali University of Sri Lanka.
Mission Statement: The Internal Audit Division provides independent and objective assurance and consulting services designed to add value and improve the University’s operations. We help the University achieve its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes, ensuring compliance with institutional policies, government laws, and regulations.
Functions and scope of the work of Internal Audit Division
The scope of the Internal Audit has been mentioned in F.R 133(2) and management audit circulars.
The functions of Internal Audit in relation to a department’s financial operations comprise the following:
- Ascertaining whether the internal check and control systems in the department are effectively designed and operating to prevent errors and fraud.
- Ascertaining the reliability of the accounting and other records and seeing that the accounting methods employed provides the information necessary for the preparation of correct financial statements.
- Appraising the quality of performance of staff in carrying out the responsibilities assigned to them.
- Ascertaining the extent to which the department’s assets are safeguarded from losses of all kinds.
- Ascertaining whether the Establishments Code, Financial Regulations of Government and other supplementary instructions issued from time to time by the Ministry in charge of the subject of Public Administration and by the Treasury are being followed.
- Ascertaining the effectiveness of the system of internal control adopted in preventing, as well as detecting waste, idle capacity and extravagance.
- Examining the accounting procedure of the department and its operations which have any financial implications, and verifying the safety, economical and proper use of property and assets of the department.
- Carrying out special investigations when necessary.
- Other Activities:
- Replying Audit quarries raised by National Audit Office
- Preparation of replies for the Audit reports
- Co-ordination of the activities of the meeting of Committee on Public Enterprises(COPE)
- Arrange Audit and Management Committee Meetings
- Conducting Pre-Audits
Staff
Contact Details
Official Telephone: +9411-2857521
Ext: 1120,1130
Email Address: audit@alpha.bpu.ac.lk