29 June 2020
Drakenstein Municipality’s Internal Audit function has just been awarded Generally Conforms, the highest rating on a scale of three ratings prescribed by the Institute of Internal Auditors. The outcome of this external quality assurance once again confirms the Municipality’s commitment to ensuring good governance.
The Municipality's Internal Audit function is responsible for evaluating and improving the effectiveness of risk management, control and governance processes of the Municipality.
A major asset of any Internal Audit function is its credibility with stakeholders. In protecting and enhancing this asset, the Institute of Internal Auditors issued the International Standards for the Professional Practice of Internal Auditing (Standards) in terms of which audit work is performed.
The Standards further require that an Internal Audit function must implement a quality assurance and improvement programme that includes an external quality assurance assessment, performed by an independent assessor every five years.
Drakenstein Municipality’s Internal Audit function recently undergone an external quality assurance assessment that assessed the function’s compliance with the Standards and Code of Ethics, and walked away with the highest rating, Generally Conforms.
The rating of Generally Conforms confirms that the relevant structures, policies and procedures of the Internal Audit activity, as well as the processes by which they are applied, generally conform to the requirements of the individual Standard or element of the Code of Ethics in all material respects.
Issued by: Communication and Marketing, Drakenstein Municipality