MONROVIA, April 30 (LINA) –The Internal Audit Agency (IAA) says it has identified 10 strategic functional or operational areas to be prioritized when giving the space to work in the deconcentration and decentralization framework.
According to IAA Director General H. Paul Collins, the 10 priority areas will, as required by the laws of Liberia and international best practices, mitigate risks where actors in the resource management arena will have almost no room for waste and abuse, making them answerable to the public.
The IAA boss made the disclosure at the recent Policy Dialogue on Mainstreaming Accountability and Transparency in the deconcentration framework.
The dialogue, organized by the Governance Commission (GC), was held in the James Fromayan Conference Hall at the National Election Commission in Monrovia.
Collins named the areas as the management of personnel and payroll, pre-disbursement compliance review, procurement controls, accounting and budgetary controls and bank reconciliation.
Other instruments of the 10 priority areas include asset management, deliverables validation, revenue management systems, prior audit recommendations and processing time efficiency.
He said when properly empowered, the IAA will also review the governance system, check for documented policies, procedures, strategies, and operational plans that clearly articulate the objectives and deliverables of the deconcentration and decentralization framework.
Collins added that as a watchdog of financial institutions, the IAA will further monitor conformance and compliance with established accounting rules and review internal controls and management systems for adequacy and implementation of the deconcentration framework.
The IAA boss described the IAA as a crucial link in the deconcentration framework because in addition to providing guidance daily to ensure successful implementation of the deconcentration framework, it will help prevent the counties from sliding into the vicious circle of corruption.
LINA BK/TSS/PTK