Mission
To provide independent appraisal of all the activities of SBP
aiming to add value, improve operational efficiency, risk management
and internal control systems
Vision
To transform Audit Department into a modern,
efficient, proactive and I.T oriented Department, fully capable
to conduct independent audit of all activities of SBP, aiming
to add value, improve operational efficiency, risk management
and internal control system in line with international best
practices, for accomplishment of Bank’s mission.
Functions Internal Audit & Compliance
Department
Internal
Audit & Compliance Department is performing three types of
functions i.e. Financial & Operational Audit, IT Audit and
Compliance. There are four divisions in the department:
•
Financial & Operational Audit Division
• IT Audit Division
• Compliance Division
• Support Services Division
Financial
& Operational Audit Division
This
division is responsible to conduct risk based audit of 30 departments
of the Bank, covering financial, operational and the aspects relating
to Corporate Governance.
Functions
- Examine
and evaluate adequacy and effectiveness of the internal control
systems in the Bank.
- Review the
applications and effectiveness of risk management procedures and
risk assessment methodologies in financial, operational and Corporate
Governance aspects of the Bank’s activities.
- Review financial,
automation technology and MIS.
- Review and
ensure accuracy and reliability of accounting records and financial
reports.
- Perform testing
of both transactions and functioning of specific internal control
procedures.
- Evaluate
and ensure that approved policies and procedures meet legal and
regulatory requirements.
- Examine and
evaluate effectiveness of existing policies, procedures and give
recommendations for improvements.
- Identify
opportunities for cost savings in Bank operations and make recommendations.
- Examining
that resources are acquired economically, used efficiently and
safeguarded adequately.
- Review various
reports of Bank’s subsidiaries, recommend improvements and
provide policy guidelines.
IT
Audit Division
This
division is responsible to conduct examination of automation of
various working areas of the Bank.
Functions
- Ensure
Security System Compliance on the policies & implementation
of security put in place by I&STD.
-
Evaluate / test IT controls and procedures of all IT systems and
applications used in SBP.
-
Conduct audit of RTGS, Swift, Unix System, E-mail & Internet
System, E-CIB, Data Warehouse, Network System, IS&TD, Globus,
Oracle ERP etc.
- Coordinate
and provide support to Financial and Operational Audit Division
to carry out IT Audit of all departments.
- Co-ordinate
closely with SBP BSC I.T. Auditors and provide useful recommendations.
Compliance
Division
In
order to keep the working of Audit Department aligned with the
best international practices, a new division, captioned as 'Compliance
Division', has been created in the Department during the recent
Reorganization and Restructuring of SBP. With a view to have more
emphasis and focus on the compliance, Audit Department has since
been renamed as Internal Audit & Compliance Department. This
division is responsible for monitoring compliance of various administrative
/ operative instructions, rules, and regulations by constantly
reviewing and reporting status of compliance and non-compliance.
Functions
- Study
and emphasize compliance of best international practices in audit
of various functions of SBP.
- Monitor
compliance of Administrative/Operational Instructions, Rules,
Regulations issued from time to time by the Management.
- Obtain
a time bound action plan from the Auditee Departments with regard
to compliance of Audit recommendation, agreed upon.
- Review
over the compliance carried out by the auditee departments.
-
Prepare and put up a consolidated Report to the Governor regarding
the status of compliance and non-compliance of the recommendations
agreed by the Departmental Management.
- Monitor the
functional reporting of IAD of SBP BSC, comprising of 18 Internal
Audit Units located at 16 field offices, HO and NIBAF.
Support
Services Division
Services
Unit is responsible for providing support to departmental employees
relating to administration, personnel and logistics.
Functions
- Prepare
of Annual Business Plan and Budget.
-
Maintenance of Imperest Account.
-
Schedule and arrange Departmental meetings
- Maintain
record of Audit Reports sent to Auditee departments.
-
Maintenance / house-keeping of premises and equipment
-
Manage record of communications received in/sent from the Department.
-
Manage all matters regarding leave/PMS/reward recognition etc
of the staff of the Department
- Send
monthly/quarterly returns to the concerned quarters.
- Manage
logistics including stationary, computers and other consumables
and keep stock of Fixed Assets of the Department.
- Liaise
with the IAD of SBP-BSC in order to keep the track record of the
Reports and other records received from/sent to them.
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