Effective September 1, 2020, Application of 11 Powers of the Internal Audit Department

From September 1, 2020, apply 11 powers of the Internal Audit Department (Illustrative image)

in Article 11 of the Model Regulations issued together with Circular 67/2020/TT-BTC regarding the powers of the internal audit department, detailed as follows:

1. To proactively perform tasks according to the approved audit plan.
2. To be equipped with the necessary resources to carry out work according to the approved plan.
3. To be fully and promptly provided with all information, documents, and records necessary for internal audit activities and professional guidance documents from relevant departments such as budget preparation, allocation, and accounting.
4. To access and review all business processes and assets when conducting an internal audit.
5. To access and interview all officers and employees of the unit about issues related to the audit content.
6. To receive documents, minutes of meetings from leaders and other functional departments related to the work of the internal audit.
7. To attend internal meetings according to legal or internal regulations.
8. To monitor, evaluate, and oversee the correction, remediation, and improvement activities of department heads regarding issues recorded and recommended by the internal audit.
9. To be protected from non-cooperation actions of the audited department/unit.
10. To receive training to enhance the capacity of staff working in the internal audit department.
11. All officers and employees are responsible for supporting the internal audit department in fulfilling their roles and responsibilities.

Additionally, the model regulations issued together with this Circular also clearly stipulate the responsibilities of the internal audit department as follows:

- To keep documents and information confidential in accordance with current laws and internal audit regulations;- To be accountable to the Minister/Head/Chairman for the results of internal audit work, evaluations, conclusions, recommendations, and proposals in internal audit reports;- To promptly monitor, urge, and check the results of post-audit recommendations implementation by relevant departments/units;- To continuously organize training to enhance and ensure the professional capacity of staff working in the internal audit;- Other responsibilities as prescribed by law and internal audit regulations.

For further details, see Circular 67/2020/TT-BTC, effective from September 1, 2020.

Ty Na

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