Here is the rewritten article in Markdown format:
Compliance Audit Checklist in Jamaica: A Guide
The Auditor General’s Department in Jamaica plays a crucial role in ensuring that government ministries, departments, local authorities and agencies are held accountable for their use of public resources. As part of its mandate, the department conducts regular audits to ensure compliance with laws, regulations and authorities.
Audit Universe
The department’s audit universe includes all government ministries, departments, local authorities and agencies, including statutory bodies.
Statutory Submission Deadlines
Under the Public Bodies Management and Accountability Act, Financial Administration and Audit Act and Executive Agencies Act, public sector entities are required to submit annual financial statements and appropriation accounts to the Auditor General’s Department within three months of the end of the financial year.
Types of Audits Conducted by the Auditor General’s Department
The department conducts five types of audits:
- Financial Statement Audits: Conducted in accordance with International Standards, these audits provide assurance on whether financial statements are prepared accurately and in accordance with applicable reporting frameworks.
- Compliance Audits: Conducted in accordance with INTOSAI standards, these audits assess whether public sector entities are complying with relevant laws, regulations and authorities that govern their activities.
- Performance Audits: These audits identify improvements needed by evaluating the effectiveness and efficiency of an entity’s resources, programs and activities.
- Information Systems Audits: Conducted to ensure that entities’ systems have adequate controls in place and are operating effectively and efficiently to achieve objectives.
- Special Investigation Audits: Conducted based on information received from stakeholders and concerned citizens, these audits investigate suspected fraud and misuse of public funds.
What is an Audit?
An audit is a process used to evaluate how public resources are being used, government policies implemented and compliance with key legislation. An auditor does not prepare or change source documents, assume custody of client assets, assume the role of management or determine estimates in financial statements. Instead, auditors evaluate internal control systems, test documentation, obtain evidence, evaluate the evidence, form an opinion and report results.
Contact Us
If you have any feedback on this article or would like to provide information for a special investigation audit, please visit our feedback page. All information collected by the Auditor General’s Department is anonymous.