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Model Internal Audit Assignment Report

Model Internal Audit Assignment Report

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Published by Andy Wynne
A model internal audit report for the public sector
A model internal audit report for the public sector

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Published by: Andy Wynne on May 20, 2012
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11/07/2012

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MINISRY OF ANYTHINGINTERNAL AUDIT REPORT(DRAFT)TREASURY MANAGEMENT(8.00/01)
Distribution:
Manager A - for informationManager B - for comment
DECEMBER 2001
 
MINISRY OF ANYTHING
INTERNAL AUDIT REPORTTREASURY MANAGEMENTCONTENTSSECTIONPAGE
1.Introduction12.Executive Summary23.Findings and Recommendations3Appendix AInternal Audit Methodology5Appendix BAction Plan of Agreed Recommendations6
ASSIGNMENT CONTROL:
Draft report
 
issued:
 November 2001
Days planned:
15
Auditor:
Francis Dark 
Final report issued:
December 2001
Days taken:
15
Supervisor:
Allan Wight
Cost of audit:
£2,100Ministry of Anything8.00/01 Treasury Management
 
MINISRY OF ANYTHING
INTERNAL AUDIT REPORTTREASURY MANAGEMENT1.INTRODUCTIONBackground
1.1We reviewed the system of Treasury Management during November 2000 as part of our 2000/01 internal audit plan.1.2The Ministry has outstanding debts of approximately £3.2 million paying interest ratesof between 6.875% and 15.875%. It also has investments of over £0.75 milliongaining interest at rates of between 5% and 7.2%. The annual budget indicates thatinterest payable in 1999/00 will be nearly £250,000 and interest received will be£34,000.
Audit Objectives
1.3The objective of our review was to assess whether existing controls should providereasonable assurance that the following control objectives are being achieved:
that appropriate cash flow projections are developed andadequate management information is generated in respect of pastand future income and expenditure
 banking arrangements and facilities are appropriate andadequately controlled
all suitable loans and investment opportunities are identified andevaluated
treasury management is undertaken in such a way that theMinistry's short and long term interests are balanced andsafeguarded
Acknowledgement
1.4We would like to thank the following staff for their time and co-operation:
NamePosition
Judy JonesAccountancy Services ManageSally SmithAccountantBrian BrownAccountancy Assistant
Ministry of Anything8.00/01 Treasury ManagementPage 1

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