Internal audit is an independent objective assurance and consulting activity designed to add value and improve an organization’s operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control and governance processes.
The purpose of the internal audit activity (IAA) is to provide independent and objective appraisals and consultative services regarding risk management, control, governance processes of financial, operational, information technology areas, and other relevant matters within the Hospital. The Department assists management and employees in effective discharge of their responsibilities, by furnishing them with analyses, appraisals, recommendations, and pertinent comments concerning the activities reviewed.
Internal audit activities are conducted by the Internal Audit Department which falls under the aegis of the Audit Committee.
- Review and appraise the adequacy, soundness, and application of accounting, financial, management reporting, and other operating controls and make recommendations for improved practices and techniques where appropriate.
- Determine that policies and procedures are being interpreted properly and carried out as established, and are adequate and effective, and make recommendations for revision where changes in operating conditions have made them cumbersome, redundant, obsolete, or inadequate.
- Determine the reliability, effectiveness, and efficiency of procedures designed to ensure the organization is compliant with applicable laws and regulations.
- Determine whether appropriate procedures exist within operations for self- assessment and continuous improvements.
