What are the Responsibilities and Authorities of the Person in Charge of Internal Audit?

What responsibilities and powers does the Head of Internal Audit have? (Illustrative Image)

To be specific, Article 14 of the sample regulations issued with Circular 67/2020/TT-BTC stipulates the responsibilities and powers of the Head of Internal Audit, as detailed below:

1. Responsibilities of the Head of Internal Audit

- Manage and operate the internal audit department to perform tasks as prescribed;- Ensure that the personnel of the internal audit department are regularly trained, have sufficient qualifications, and professional competence to perform tasks;- Implement measures to ensure the independence, objectivity, and honesty of internal auditing;- Report to the Minister/Director/Chairman when identifying weaknesses or deficiencies in the internal control system;- Provide opinions upon consultation requests from heads of internal audit of state-owned enterprises and public service providers;- Be responsible for the results of audits conducted by the internal audit department;- Keep information confidential in accordance with the law;- Perform other responsibilities as prescribed by law and internal audit regulations.

2. Powers of the Head of Internal Audit

- Propose to the Minister/Director/Chairman the issuance of regulations, internal audit procedures, and internal audit professional methods;- Request to mobilize personnel from other departments of the unit;- Propose to hire experts and consultants to establish the internal audit department to participate in internal audits when necessary, ensuring the independence of internal auditing;- Attend meetings according to internal unit regulations and the law;- While conducting audits, have the right to independently remark, assess, conclude, and recommend on audited contents;- Have the right to ask the audited department/unit to promptly provide full documents and information related to the audit content;- Reserve opinions in writing regarding audit results;- Exercise other powers as prescribed by law and internal audit regulations.

Additionally, the head of internal audit annually commits and confirms with the Minister/Director/Chairman the independence of the organization towards the internal audit department.

For more details, see Circular 67/2020/TT-BTC effective from September 1, 2020.

Ty Na

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