Internal Audit Division
The Innovation and Sustainability (I&S) Division is of the divisions in Pustaka Negeri Sarawak. Established in 2004, it was called the Research and Development (R&D) Division until 2017. Administratively, it is directly under the purview of the Deputy Chief Executive Officer (Operations). I&S Division' s core mission is
- Undertake research and study on library and information science that is designed for the improvement and continuing development in the quality of library’s roles in the society and library professionals.
- Promote the practical application of relevant research findings in library and information science
- Promote standards, guidelines and best practices in library and information science
- Provide support, input and advice in the establishment, expansion and improvement of library facilities through the administration of the State and Federal grants
Contents
What is an Internal Audit?
Internal audits evaluate a company’s internal controls, including its corporate governance and accounting processes. They ensure compliance with laws and regulations and help to maintain accurate and timely financial reporting and data collection. Internal audits also provide management with the tools necessary to attain operational efficiency by identifying problems and correcting lapses before they are discovered in an external audit.
Functions
The main functions are
a) To facilitate research and related activities on library science.
b) To identify queries regarding library services that need to be answered through research and promote the conduct of research to answer those queries.
c) To review and make recommendations on studies/research and professional efforts pertaining to libraries and recommending inclusions, standards, procedures and policies.
d) The Secretariat for strategic plans.
e) The Secretariat for Pustaka's Malaysia's Plans submission.
f) To coordinate library advisory and consultancy services.
g) The Coordinator for Continual Improvement Programs.
Internal Audit Process
Internal auditors generally identify a department, gather an understanding of the current internal control process, conduct fieldwork testing, follow up with department staff about identified issues, prepare an official audit report, review the audit report with management, and follow up with management and the board of directors as needed to ensure recommendations have been implemented.
Assessment Techniques
Assessment techniques ensure an internal auditor gathers a full understanding of the internal control procedures and whether employees are complying with internal control directives. To avoid disrupting the daily workflow, auditors begin with indirect assessment techniques, such as reviewing flowcharts, manuals, departmental control policies or other existing documentation. If documented procedures are not being followed, direct discussion with department staff may be necessary.
Analysis Techniques
Auditing fieldwork procedures can include transaction matching, physical inventory count, audit trail calculations, and account reconciliation as is required by law. Analysis techniques may test random data or target specific data, if an auditor believes an internal control process needs to be improved.
Reporting Procedures
Internal audit reporting includes a formal report and may include a preliminary or memo-style interim report. An interim report typically includes sensitive or significant results the auditor thinks the board of directors needs to know right away. The final report includes a summary of the procedures and techniques used for completing the audit, a description of audit findings, and suggestions for improvements to internal controls and control procedures. The formal report is reviewed with management and recommendations for improvement are discussed. Follow up after a period of time is necessary to ensure the new recommendations have been implemented and have improved operating efficiency.
