F.P. Report
PESHAWAR: As a key financial management reform initiative, the Khyber Pakhtunkhwa (KP) Government on Tuesday formally launched a centralized and comprehensive Internal Audit policy for all the government departments and local governments. The policy formulated by the provincial finance department, provides a mechanism to strengthen internal control, preempt misuse and enable top management to have efficient control. The internal audit function is being developed for the first time in KP’s history. The launching event was attended by senior government officials, secretaries, and participants from the development partners, civil society and media. Minister Finance Khyber Pakhtunkhwa, Muzaffar Said Advocate Chaired the ceremony.
“The Internal Audit Policy is intended to build confidence of the citizens by providing unbiased assessment of whether public officials are managing public resources responsibly, effectively, and honestly” said KP Finance Minister Muzaffar said. He said internal audit policy supports the governance responsibilities of oversight, insight, and foresight, Moreover, the oversight intends to address whether public sector entities are doing what they are supposed to do; funds are being spent on intended purposes and laws are being complied with, the Minister said.
He added that sensitization in departments regarding the same policy was necessary as to aware them from its effectiveness. He revealed that initially in 13 departments and district government of Peshawar, the entire audit cells were established while it would be expanded to all the departments and districts of the Province. He maintained that center of these audit cells were established in finance department which only provides support to the entire cells in various Departments.
During the launching ceremony Additional Secretary Finance gave a detail briefing regarding the IAP, while strategic Advisor Rashid also spoke on the occasion. It was explained in the ceremony that the audit policy also defines the broad principles, authority and responsibility of PIAC, Department/District Internal Audit Cells (IACs) and the role of the both in regard coordination, support and functioning.
