Internal Audit Department examines Loans

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In 2014, the Department of Internal Audit completed nine audits. These audits examined loans to Public Officers from the Ministry of Finance, the Ministry of Education and Culture Adopt a School Programme, and the Assistant Grants Programmes across all Ministries.

The announcement regarding the audits was made by Director of Internal Audit, Mrs. Dores Maduro-Corea. The Director also stated during her appearance before the Standing Finance Committee that her Department was working on audits for the Road Maintenance Programmes with the Public Works Department , the Elmore Stoutt High School Revenue Accounts,  and the Wickhams Cay Development Authority.

Mrs. Maduro-Corea further stated that there was one investigation being carried out with the Jost Van Dyke Customs and a follow-up on the Belonger Application process with the Premier’s Office.

In explaining the difference between an audit and an investigation the Director stated that an audit was a planned exercise where preliminary work was done; and the audit, she said was carried out based on the objectives and the scope of the work. The Director further stated that – like an audit – an investigation was requested, and occurred only when there was some discrepancy. In both instances, she said there would be a conclusion.

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