The regulation of the internal audit function in the public sector

Abstract

The need for a strong internal audit function within Government arose when the functions of Government grew in scope, size and complexity. The public internal audit function is the management tool which assists Government in providing an excellent service to the public. Regulation at present is by means of an administrative setup supported by charters and policy documents. However, since the scope of work of the IAID is broadening, and its responsibilities are thus increasing, the IAID needs to be backed up by specific legislation. The underlying goal of this dissertation is aimed towards illustrating the necessity for legislation, and proposing an underlying framework, which illustrates how the Public Internal Audit Function should be regulated. Several academic resources were consulted during the course of this dissertation. Information was also gathered from interviews carried out in the local environment. This dissertation furnishes a number of recommendations, as guidelines for public internal auditors. These were generated with a view of enhancing the performance of the internal auditor and hence the public internal audit function.