Finance Act 2010 - TRA

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Amendmentof section 7Addition ofnew Part Vunder section 36 of the Local Government FinancesAct" between the words "General" and "and"appearing in section 4 in relation to the definition ofthe term "accounting officer."27. The principal Act is amended in section 7(2) byinserting the phrase "Local Government Authority" betweenthe words "Government" and "and" appearing in the fourthline.28 .-( 1) The principal Act is amended by -(a) inserting immediately after Part IV thefollowing new Part:InternalAuditorGeneral"PART VOFFICE OF INTERNAL AUDITOR GENERALFunctionsof InternalAuditorGeneral37.-(1) There shall be an InternalAuditor General under the Ministryresponsible for finance.(2) The Internal AuditorGeneral shall be appointed by thePresident from amongst qualifiedpersons in accountancy, auditing orfinancial matters on such terms andconditions to be specified in the letterof appointment.38.-(1) The Internal AuditorGeneral shall be responsible to thePaymaster General for-(a) developing internalaudit policies, rules,standards, manuals,circulars andguidelines;(b) reviewing andappraising complianceto laid down laws,
egulations, standards,systems and proceduresin Ministries,Departments,GovernmentInstitutions, Regions,Local Governmenti\uthorities,executiveagencies and donorfunded projects; and(c) ensuring control andproper accountabilityof public monies andproperty.(2) For the purposes of subsection(1), the Internal i\uditor Generalshall-(a) scrutinize and compile auditreports from Ministries,Department, GovernmentInstitutions, Regions, LocalGovernment i\uthorities,executive agencies and donorfunded projects and shallprepare a summary of majoraudit observations andrecommendations and submitthe same to the PaymasterGeneral for further action;(b) undertake continuous AuditRisk Management;(c) develop and supervise theimplementation of InternalAudit Strategy;(d) develop, implement andreview i\nnual i\uditProgramme;
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Finance Act 2010 - TRA

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