The Internal Audit Office advises the Institute on dealing with risks, by issuing independent opinions on the quality of management and control systems, and by issuing recommendations to improve the conditions of the implementation of operations and to promote sound financial management.

The Internal Auditor is responsible for assessing the suitability and effectiveness of internal management systems and the performance of the services, in implementing policies, programmes and actions by reference to the risks associated with them and for assessing the efficiency and effectiveness of the internal control and audit systems applicable to each budgetary implementation operation.

The role, duties, independence and operational standards for the IAO are established in the Institute’s Financial Rules and its Rules of Application (Chapter 7), and in the Principal’s Decision 25/2004.

The Internal Auditor has also been appointed as Secretary of the Organ of First Instance and of the Appeals Board and, and will be responsible for the work of the Secretariat.

Why have an Internal Audit Office (IAO)?

  • Transparency is imperative – Member States, European Commission and external sponsors, require accountability and the internal audit reviews help demonstrate the good faith and progress of the Institute toward compliance. IAO pinpoints the areas where controls need to be strengthened and engage management into a process of continuous rationalisation and improvements
  • Complexity of the EUI regulations – Need for an objective body to monitor the execution of the internal policies and procedures
  • Independent appraisal of the adequacy and effectiveness of the organisation’s internal control system
  • Independent advisors – Management need a body without executive power and not involved in the decision making process to advise on the objective application of rules and procedure and the proper implementation of projects.

More detailed information on the purpose, authority and responsibility of the internal audit activity could be obtained at the website of the Institute of Internal Auditors (IIA). The IIA is a professional association recognised throughout the world as the internal audit profession’s leader in certification, education, research, and technical guidance.  

 

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Page last updated on 12 February 2018