BRIEF HISTORY
The Internal Audit Department was established in the early 1980s with two staff headed by Mr F. O. Ladipo; a Higher Executive Officer. By 1990, the department had a new Head, who was Mr. F. A Oladimeji. The third Head of Internal Audit Department was Mr J. O. Akinleye who stayed in office for about fourteen years. Mr Akinleye later handed over to Mr R. A. Adewolu, Deputy Director (Audit) who is the incumbent Head of Internal Audit Department. The department at present has qualified professionals who are diligent, dedicated and competent to carry on the activities of the department in an efficient manner to ensure adherence to management policies, safeguarding the assets and securing the completeness of records.
B. PHILOSOPHY AND OBJECTIVES
As a self-accounting unit, the Internal Audit Department was set up for:
Fraud prevention and detection
Security of assets
Effective monitoring and investigation
Waste elimination
Review of Internal Control System
Compliance with Financial Regulations, Treasury and Establishment Circulars,
Public Service Rules, and the Constitution of the Federal Republic of Nigeria.
Vii Ensuring that Management is advised appropriately in order to achieve value for money
C. FUNCTIONS
In accordance with the Financial Regulations (FR) 1701, the Internal Audit Department is a managerial control which functions by measuring and evaluating the effectiveness of Internal Control System in an organisation. The Internal Audit is also established to provide a complete and continuous audit of accounts and records of revenue and expenditure, assets, allocated and unallocated stores where applicable.
The following are some of the functions and activities performed by the Internal Audit department:
Monitoring of the Internally Generated Revenue
Monitoring of disbursement of public funds
Continuous evaluation of Internal Control System
Monitoring of allocated and unallocated stores items
Auditing of salaries, pensions, corps members and contract officers' salaries
Checking the hospital's Books of Accounts
Monitoring and checking of the hospital capital projects
In order to perform the functions and activities of the department diligently and effectively, the Audit Department of the Neuropsychiatric Hospital Abeokuta uses the following documents as required by law:
The Constitution of the Federal Republic of Nigeria
Financial Regulations (FR)
Public Service Rules (PSR)
Iv Treasury/Establishment Circulars