Internal Audit Division
Internal Audit Unit,
Ministry of Economy,
Level 2, Block F11, Parcel F
Lebuh Perdana Timur, Precint 1,
Federal Government Administrative Centre
62000 W.P Putrajaya
The establishment of the Internal Audit Unit is determined through the requirements of the Malaysian Treasury Circular, PS 3.1 (Implementation of Internal Audits in Federal and State Government Ministries or Departments) and the letter of the Chief Secretary of the Treasury dated 5 May 2009. The Internal Audit Unit carries out its duties independently and plays a role in assisting the management strengthen accountability, governance and integrity by providing reasonable certainty through an objective Audit Report. In addition, the Internal Audit Unit also provides consulting services to Audits through lectures/workshops to improve the level of efficiency and effectiveness of organizational governance as well as prudent spending.
The Internal Audit Unit, Ministry of Economy is responsible for:
- Reviewing the reliability and effectiveness of the organization's financial system and internal control;
- Review the level of compliance with all policies, laws, regulations and directives in force;
- Reviewing programs/activities managed prudently, efficiently and effectively;
- Review assets and protected interests in terms of loss, fraud and misappropriation;
- Provide advice/views on internal control of all operational procedures and ICT application systems;
- Reporting the results of the audit and monitoring the follow-up actions taken by the management on matters raised.
- Conducting auditing professionally based on International Auditing Standards;
- Issuing an audit report/observation within 1 month after the completion of the auditing work; and
- Prepare the Internal Audit Annual Report before the end of March of the following year.