Internal audits for government & broader public sector

Internal audits improve the efficiency, effectiveness, economy and accountability of public sector programs. Qualified audit professionals work cooperatively with public sector management and staff to:

• Increase efficiency and revenue while reducing operating costs
• Comply with government mandates, policies and regulations
• Assure internal controls are working effectively
• Better identify and respond to organizational risks and opportunities
• Increase staff skills through training
• Improve accountability

Audit services

The Ministry of Finance's Internal Audit & Advisory Services (IAAS) is the only internal audit department that provides a wide range of internal audit and consulting services to the B.C. government and the broader public sector. IAAS provides independent and objective assurance and advice to support effective financial management, governance, accountability and performance management practices in government. IAAS reports to a Deputy Minister Audit Committee, which provides oversight of the internal audit function for the benefit of government and Treasury Board.

Some B.C. government ministries have their own internal audit departments. These departments focus on compliance with specific legislation and Ministry policies and procedures. Most Crown corporations also have their own internal audit departments. The range of services varies and is only provided to their own organization.

Types of Engagements

IAAS conducts a number of types of engagements within the BC government, including:

• Financial management audits assess the design and effectiveness of financial policies, processes, and controls. These engagements help ministries strengthen stewardship of public funds, manage financial risks, and support the achievement of program objectives.
• Program evaluation audits examine program governance, performance measurement, monitoring, and reporting practices. These engagements help ministries assess whether programs are designed and managed to achieve intended outcomes and deliver value to British Columbians.
• Information Management and Information Technology (IM/IT) audits assess the governance, security, and reliability risks associated with information systems and technology. Engagements may include reviews of IT controls, cybersecurity practices, and technology governance where these risks affect financial management, service delivery, or information security.
• Advisory Engagements are conducted in collaboration with management to provide objective advice on emerging risks, new initiatives, and organizational challenges. Scope and deliverables are agreed upon in advance to ensure alignment with IAAS mandate and professional standards.