Internal Audit in Victorian Public Sector

Key findings included:

there was a general lack of resources and Executive support for internal audit in many of the 71 agencies examined;
few organisations had established audit committees and most executive heads were not familiar with the role or benefits that could be gained from an audit committee comprising expertise from outside the organisation;
generally internal audit units could not provide an assurance to management on the integrity of financial statement information as the audit coverage did not extend over the entire year; and
limited internal audit resources were directed to the examination of computerised systems.

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