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December 3, 2021
News

Gangloff: Public sector internal audit program needs to be reformed

The private sector has been encouraged to lend a helping hand and play a larger role in assisting the Public Service Internal Audit.

Principal of Gangloff Consulting, Ernest Gangloff, made the comments during his presentation at the Certified Practicing Accountants Joint Annual Conference.

Mr. Gangloff said the government’s Public Sector Internal Audit program which came into effect in 2005, needs to be reformed.

Under section 9 of the Public Finances (Management) Act 1995, all national departments, provincial administrations and statutory bodies are required to establish Audit Committees and Internal Audits in their organisations. The Act came into effect in 2005.

It is eight years into operation now and according to the Principal of Gangloff Consulting, Ernest Gangloff, the legislation needs to undergo a review.

With experience in internal auditing and risk management, Mr. Gangloff told the gathering of Certified Practicing Accountants that one of the main issues is regarding the chairmanship of the Audit Committees.

He also pointed out the lack of capacity and capability within the internal audits unit.

In his recommendations, Mr. Gangloff said the private sector with its expertise, through the various chambers and councils, can offer their support to the public sector to help make things work better.

https://youtube.com/watch?v=y19ciJO88d8%3Ffeature%3Doembed%26wmode%3Dopaque%26showinfo%3D0%26showsearch%3D0%26rel%3D0

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