- Each audit cycle begins with the conduct of the half-year audit [interim audit] between July-November each year.
- Issuance of state wide Audit Circular on the commencement of the year end audit by the State Auditor-General by November.
- Notification of MDA’s on the kick-off date of the year-end audit on or before the last month of the year and inform the audit client in an introduction letter on the following:
- the name of the Supervisor [Director] who will have responsibility for the audit and liaison with the audit client.
- the name of the Audit Team Lead who will manage the audit and deal directly with the client in the course of audit
- requirements in the area of supporting documentations and other audit evidences
- Collection of Financial Statements from the State Treasury Office on or before the end of the first quarter of the year as stipulated by law.
- Hold entry meeting with Accounting Officer before the commencement of the audit exercise and take all necessary steps to understand the business of our clients and the business processes from which the accounts were derived.
- Communicate issues which arise out of the audit promptly.
- Audit teams hold close-out meetings with managements of MDA’s to resolve issues observed during the audit exercise.
- Issue audit report within 10 working days of close-out meeting to the Client.
- Responses received 7 working days prior to the exit meeting are acted upon before the exit meeting.
- Invite and conduct exit meetings for Audited MDA’s within 60 days of the receipt of the Annual Financial Statements.
Conclusion of audit process and Issuance of an audit opinion within 90 days of the receipt of the Annual financial statements from the Accountant General of the State and submission of Auditor-General’s report to the House of Assembly.
|B-Issuance of Annual statutory audit reports; and Issuance of periodic reports on Parastatals:
For our overall programme we will set an initial target of issuing not less than 90% of audit opinions within the target timescale.
However, for each examination the Office will
· provide draft reports for comment and verification of factual accuracy by clients
C-Recommendation of External Auditors and issuance of guidelines on the levels of fees paid.
Call for registration at the last quarter of every year
Obtain rates of professional fees from professional institutions at the beginning of every year.
Forward guidelines for fees to Parastatals within one week of receiving details from professional institution.
Forward list of recommended External Auditors to the parastatals for selection within 3 days of review of the auditors resume.
D-Certification of Pension and Gratuity for payment