Fixed Assets

Audit standards (best practices) for the Capital Requisitions line of inquiry

Objectives:
1. Review the effectiveness and efficiency of internal controls utilized to manage the financial and accounting function over the incurrence and recording of the expenditures;
2. Review the efficiency and effectiveness of management systems including governance, HR, organizational structure and strategic planning; and
3. Assess the adequacy of the performance management framework including data collection, analysis, and reporting.

Management Audit TOR – Camps
1. STRATEGIC PLANNING: Review current strategic plans documented by the Institution for relevance, performance measurements, sustainability, and progress on implementation.
2. INSTITUTIONAL SYNERGY: Assess the strength and quality of partnerships with sister institutions and external agencies as well as alternate delivery mechanisms to deliver optimal benefits to primary beneficiaries.
3. ORGANIZATIONAL STRUCTURE: Verify that the current organizational structure is adequately aligned to address the Camp’s goals & objectives and to meet stakeholder needs, especially the marginalized segment of the Jamat.
4. MARKETING: Review the effectiveness of the current marketing strategy to promote the Camp.
5. EVALUATION & MONITORING SYSTEMS: Review the effectiveness of evaluation systems in monitoring quality of services, Camp performance, and acceptance of services by stakeholders and Institutions.
6. POLICIES AND PROCEDURES: Assess the appropriateness and effectiveness of documented Camp policies and procedures. Ensure current policies and procedures are simple, clear, and sustainable.
7. RISK MANAGEMENT: Assess the extent to which operational risks have been identified, documented, and addressed by the Institution.