Internal Audit Unit

Internal Audit plays an important role in helping management assess the effectiveness of LADA’s control and management processes. It is responsible for auditing financial records and development projects in accordance with the Annual Audit Plan. In addition, a special audit can be conducted upon the request of management.

FUNCTIONS

• Reviewing the reliability, integrity and accuracy of records and financial data. This includes reviewing all methods used to identify, measure and report information, and investigating transactions, balances and procedures.
• Reviewing accounting systems and controls to ensure management objectives are achieved with proper compliance with policies and laws.
• Ensuring that all government property is safely stored and protected from loss, fraud or abuse.
• Assessing the economy, efficiency and appropriateness of any resource that is managed and used by LADA
• Recommending measures to improve operations in areas that require modification and correction.
• Giving clear, independent and objective information to management on the running of operations.