Internal Audit

 FUNAI Internal Audit Department was set up in 2012 by the Management of Federal University, Ndufu-Alike, and Ikwo to provide a complete and continuous audit of the accounts and records of revenue and expenditure, assets, allocated and unallocated stores of the University.

In addition to exercising its core mandate of providing a complete and continuous audit of the accounts and records of revenue and expenditure, assets, allocated and unallocated stores of the University, which are in line with Section 1701 sub-sections (i) and (ii), of the Federal Republic of Nigeria Financial Regulations (as revised in 2009), the Department performs amongst others the following duties:

  • Maintenance of adequate checks against fraud and misappropriation of assets;
  • Verification of assets and liabilities at regular intervals;
  • Examination and constant scrutiny of all system of authorization of payment to ensure adequate control of expenditure;
  • Ensuring that various policies as put in place by the Management are strictly adhered to;
  • Ensuring that information required by the Management for effective performance is reliable, complete and timely;
  • Conducting periodic examination of internal checks to ensure accuracy and efficiency;
  • Reviewing accounting system and related internal controls;
  • Examination of financial and operational information for management, including detailed testing of transactions and balances;
  • Reviewing the economy, efficiency and effectiveness (Value for Money Audit) of operations and functioning of both financial and non-financial controls;
  • Conducting special investigations; and
  • Any other related functions as may be assigned by the Chief Accounting Officer.
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OUR PEOPLE

The Department is presently made up of a head, four (4) senior staff and five (5) junior staff with competencies in audit, investigations and assurance services, taxation and corporate advisory services. Plans are underway to engage more professionals.

The detailed profile of each of the Department staff can be viewed hereunder.