Administration Manual - B.E.S.T. Undertaking.

4 Functions of Internal Audit :
As detailed by the General Manager in his Procedure
Order No. 38 bearing reference IA/43343/69-70 dated
17 th November 1969 the functions of the Internal Audit
Department are to ensure
That routine work is carried out to set rules, procedures
and instructions of Management issued from time to time;
That Books of Accounts are properly maintained and
results tabulated in the forms prescribed duly approve by
the Committee;
That men and material of the Undertaking are used
efficiently and economically;
That financial proprieties are observed in all matters and
overall expenditure incurred is within the budgetary
provisions;
That various transactions, approvals and payments made
are strictly in conformity with the rules governing them;
and
That generally all activities are carried out efficiently and
economically.
The Internal Audit Department carries out its continuous
audit programmes on various activities of the Undertaking
with a view to ensuring the above and audit observations
in respect of the above matters are made and remedial
action is required to be taken by the departments to not
only set right the irregularities pointed out but also that
all precautions are taken to avoid repetition of similar
irregularities thereafter.
The Internal Auditor reports to the General Manger every
year, within three months of the close of the financial
year, all cases of major irregularities or financial
improprieties detected by his department during the
course of continuous audit.
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