Upholding Public Interest ROLE OF INTERNAL AUDIT IN STRATEGY MONITORING AND EVALUATION Presenter CPA JOSHUA AURA MANAGING DIRECTOR. REGIONAL CENTRE OF MANAGEMENT.
Henri Fayol’s 5 functions: Monitoring and evaluation(M&E) is the heart of the controlling function. Upholding Public Interest
M&E Terms 1)Goal/objective/impact- long term changes 2)Outcomes-short&medium term effects of an intervention 3)Outputs-Deliverables such as policy papers drafted, roads built 4)Activities- actions,processes,events,meetings, trainings 5)Inputs- Resources needed eg.fin.,humanetc Upholding Public Interest
M&E terms(Contd) 6)Baseline. This is the first measurement of a situation/indicator. It is initial data obtained which serves as a basis for comparison with subsequently acquired data. 7) key performance indicators. These are variables that provide means of measuring progress. (BALANCED SCORE CARD) 8)Strategy. Plan of action intended to achieve a specific goal.
Monitoring and Evaluation(M&E). It is a system that tells us where we are as we attempt to progress towards meeting our results/objectives. Upholding Public Interest M&E helps organizations to demonstrate unequivocally/transparently with facts and figures that they are able to meet the stated objectives.
Monitoring Seeks to check progress against planned targets and can be defined as the formal reporting and evidencing that spend and outputs are successfully delivered and milestones met (also providing a valuable source of evidence for evaluations). It is an ongoing process of gathering information to track progess(OECD,2012) Upholding Public Interest Evaluation It’s the assessment of the initiative's effectiveness and efficiency during and after implementation. It seeks to measure the causal effect of the scheme on planned outcomes and impacts and assessing whether the anticipated benefits have been realized, how this was achieved, or if not, why not.
Internal Audit According to IIA Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization's operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes. Upholding Public Interest
Internal Auditor and M&E Internal audit ensures that there is a foundation established to have an enabling environment for delivery of good quality monitoring and evaluation. This include creating the right culture, embedding the requirement for monitoring and evaluation into the framework for corporate governance and approvals so that it becomes part, and remains part, of the key decision making processes. The internal audit and assurance function will perform the following through the Department's senior-level Strategy Committee: 1)It will appraise the conception of the strategy- is it impact oriented? 2)It will appraise risk assessment process of the firm in regard to its strategies. IA is a great pillar of risk assessment. The question here is whether the strategy is going to deliver as per expectations. 3)Develop an audit programme premised on the M&E framework. 4)Embedding a culture of M&E in an organization. The department should follow through the M&E reports to the board to see whether they are discussed and acted upon. 5)4E’s Upholding Public Interest
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