After knowing what is the mission of the internal branch audit (this should be the mission of all auditors since he should know he represents a hand of help, he is not a policeman), now we are going to extend a little bit more in the scope of work.

image source

The scope of work of IAD is to determine whether the auditees are doing their job adequately and functioning in a manner to ensure:

• Risks are appropriately identified and managed.
• Significant financial, managerial, and all other information are accurate, reliable and timely produced.
• Actions taken by auditee are in compliance with policies and standards.
• The laws and regulations are applied in the right way.
• Resources are acquired economically and used in an efficient way.
• Plans and objectives are achieved, and ensure that they are working in the right way to reach their target.

Even the auditor has to ensure that the image of the institution is presented in the best way in front of clients.

Also the auditor has responsibilities in front of the high management.

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Since he has almost absolute power granted from the management in order to facilitate his job, on the other hand he has responsibilities to present:

• develop annual plan and submitted to the audit committee for review and approval.
• Implement the plan as approved.
• Maintain a professional audit personnel with sufficient knowledge.
• Perform consulting services to help auditees in meeting their objectives.
• Issue audit reports to management and any other relevant parties at the conclusion of each audit assignment.
• Assist in the investigation of suspected fraudulent activities.

And many other responsibilities, in the matter of fact the responsibilities of the auditors are very important to ensure that he is transmitting the findings to the committee in a professional way and working on solving the problems and giving solutions effectively.

To be continued with Diary of a BANKER Part- 15

The text published in this post is my original work.

Some images are from different sources click on the link below the image to view the source.

**Kindly don’t forget to check the old parts from “Diary of a Banker” for entertainment and more information.

Diary of a Banker part-1

Diary of a Banker part-2

Diary of a Banker part-3

Diary of a Banker part-4

Diary of a Banker part-5

Diary of a Banker part-6

Diary of a Banker part-7

Diary of a Banker part-8

Diary of a Banker part-9

Diary of a Banker part-10

Diary of a Banker part-11

Diary of a Banker part-12

Diary of a Banker part-13

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