The mission of Zanzibar Housing Corporation Internal Audit Section is to provide independent assurance and audit activities, guided by a philosophy of adding value. This is designed to improve the operation of the Corporation through its departments and sections. The main objective is to bring a systematic and disciplined approach to evaluate and improve the effectiveness of the corporation’s risk, control and governance processes.
Key Functions of the Unit
The key functions of Internal Audit are stipulated in the Regulation 34 (1) (a-h) of the Public Finance Regulations. These include reviewing and reporting on:
1. Proper control over receipts and payments;
2. Conformity with the financial and operation procedures and good accounting practices;
3. Correct classification and allocation of revenue and expenditure account;
4. Reliability and integrity of financial and operating data, to ensure preparation of accurate financial statements and other reports as per legislative requirements;
5. Systems in place used to safeguard assets;
6. Operation/programs to ensure consistence with established objectives and goals;
7. Adequacy of actions by the management in response to the recommendation made on the Internal Audit reports and those from the Controller and Auditor General;
8. Adequacy of the controls built in the computerized systems. (e.g. Payroll);
9. Ad hoc Internal Audit assignments as might be requested by the Accounting Officer.
