Internal Audit Services

Descriptions

The South Wales Fire & Rescue Service was formed on 1 April 1996 and provides a service to the 1.4 million people living in its service area. The revenue budget for 2011/12 is £71,157 million, all of which is met by contributions from the 10 Local Authorities that make up the area:- Cardiff, Blaenau Gwent, Bridgend, Caerphilly, Merthyr Tydfil, Monmouthshire, Newport, Rhondda Cynon Taff, Torfaen, and Vale of Glamorgan.The Authority seeks the provision of a fully comprehensive Internal Audit service providing management assurance on internal control including:-•Systems design and operation•Value for money•Fraud and corruption•Computer systems•Capital system and capital expenditure•Compliance with Accounts and Audit Regulations and Accounting StandardsA prerequisite for an adequate fully comprehensive Internal Audit service is the planning of audit work and the drawing up and implementation of a robust audit plan clearly based on identified principles of risk.Liaison with the external auditor, the Wales Audit Office (contracted to KPMG at present) will be important to ensure maximum utilisation of audit resources. A managed audit approach is to be taken. This will involve annual coverage of the Authority’s four main systems i.e. payroll, pensions, creditors, and general ledger, and an agreed cyclic coverage of other systems.