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Title: The introduction of an internal audit unit at the national statistics office : a case study
Authors: Xuereb, Sarah
Keywords: Auditing, Internal -- Malta
National Statistics Office (Malta)
Auditors -- Malta
Issue Date: 2015
Abstract: Purpose: The purpose of this study is to evaluate the need to set up an internal audit unit at the National Statistics Office (NSO). It intends to set out the benefits that such a function would bring about and the necessary requisites; assess the nature and type of internal auditing to be introduced; propose an appropriate set-­‐up for such unit; and to determine the relations that the internal audit unit would have with its stakeholders. Design: In attaining these objectives, an initial research on the subject was carried out enabling an in-­‐depth understanding of relevant literature. Primary data was then collected by way of ten semi-­‐structured interviews with NSO personnel, the external auditor, and other public sector entities. Information was also gathered through correspondence with other National Statistical Institutes. Findings: Findings indicate that there is the need for an internal audit unit to be introduced. It puts forward the benefits and the main requisites for establishing an effective unit including having a strong audit team, independence, authority, adequate reporting lines, and sound relationships. The importance of adopting an internal audit charter and of developing an audit plan in line with the risk assessment methodology is also set out. The unit would focus on operational audit and would ideally be co-­‐sourced. Conclusion: This study concludes that an internal audit unit should be introduced immediately at the NSO. Such an introduction should be planned and structured in accordance with the requisites and tailored according to the organisation’s needs. Once the IAU is set-­‐up, the audit plan can be developed presenting the activities to be carried out and then the audits can commence. Value: This study suggests ways in which such introduction could be carried out. If adequate planning is undertaken and the appropriate set up is adopted, the introduction should benefit the NSO. It is hoped that this study would encourage such introduction.
Description: M.ACCTY.
Appears in Collections:Dissertations - FacEma - 2015
Dissertations - FacEMAAcc - 2015

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