The Internal Controls and Audit Department (ICAD) is an independent function established under Section 26 (1) of the National Revenue Authority (NRA) Act of 2022. This department's creation aligns with the Institute of Internal Auditors (IIA) International Standards, which require that the internal audit function have a direct reporting line to the Board and report administratively to the Commissioner General. As a result, the department operates independently, free from management's influence.
The department’s primary role is to advise the Board, through the Audit Committee, and the Commissioner General on internal controls, risk management, and governance systems within the Authority. This is achieved by assessing and evaluating the effectiveness of controls and systems in achieving the Authority’s strategic and operational objectives. The ICAD’s scope encompasses all systems, processes, operations, functions, and activities of the National Revenue Authority.
FUNCTION
To assess the adequacy and effectiveness of the NRA’s internal control framework, the Internal Audit Department (IAD) will:
Evaluate the reliability and integrity of financial and operational information.
Ensure compliance with plans, procedures, laws, and regulations.
Review the safeguarding of assets, systems, and processes, including ICT.
Assess the efficiency and economy of resource usage.
Provide advice to management on various issues where necessary.
Assist management in identifying and mitigating risks.
