Public Sector Governance Reform and Development Project: Internal Audit Consultancy

Through this one-year, USD 233,000, World Bank-funded project, Cowater worked with the Kogi State Accountant General through the World Banks Kogi State Public Sector Governance Reform and Development Project. This project worked on the internal audit component focused on assisting the Ministries, Departments, and Agencies (MDAs) to address their weaknesses in internal audit functions, while providing assurances that adequate internal controls and risk management practices are in place. It built the capacity of internal auditors; helped MDAs comply with extant laws and carry out their operations more efficiently and effectively; and modernized and strengthened internal audit structures. The project undertook key activities such as a functional and process review of the existing audit charter, while supporting the Office of the Accountant General of Kogi State with a restructuring of its office, in accordance with international best practices and standards; developed an audit manual that set out the policies, standards and procedures for internal audit functions within MDAs; recommended mechanisms for modernizing internal audit methods, techniques and reporting, including the planning of audit work; and trained staff of the State Accountant General (Internal Auditors) on modern auditing techniques, financial controls and budget monitoring.