ASDP Basket Fund - Ministry Of Agriculture, Food and Cooperatives

8 Reporting requirements and auditingarrangements8.4 Auditing requirements at central levelInternal audit arrangementsASLMs’ Internal Auditors have an important role to play in keeping ASDP’smanagement informed of the programme’s progress. In particular they are requiredto:• Inform ASDP management on the usage of ASDP funds• Report on progress with respect to achievement of ASDP objectives andtargets• Offer advice and recommendations for enhancing resource managementand accountability.The Public Finance Regulations of 2001 require each ASLM’s Internal Auditor to workclosely with the ASDP Audit Committee which is sub-group of the ASDP FinanceCommittee. Roles of ASDP Audit Sub Committee have been defined in theinstitutional arrangements in Section 2.External audit arrangementsThe National Audit Office has responsibility under law to undertake external financialand performance audits within six months of the financial year end. The Controllerand Auditor General may discharge this responsibility by authorising reputable auditfirms to undertake audits on his/her behalf.The auditors who report to the ASDP Basket Fund Steering Committee, are requiredto audit ASDP’s receipts and payments statement, signed by PS ASLM, inaccordance with International Standards on Auditing. In addition, the audit involves:• The examination, on a sample basis, of evidence relevant to the amountsand disclosures provided in the statement of accounts• Evaluating the overall accuracy of information presented in the accounts.Government of the United Republic of Tanzania72