Internal Audit Unit to become fully operational from next week: Finance Secy

Finance Secretary Dr Md Khairuzzaman Mozumder said on Friday that the newly established Internal Audit Unit will become fully operational from next week.

“The Finance Division has established an independent Internal Audit Unit to reduce financial risks and ensure proper management in government institutions of Bangladesh. This initiative, recognising the importance of internal auditing, will become fully operational starting next week,” he said.

According to a release, the secretary said this while speaking as the chief guest at a stakeholder consultation workshop titled “Internal Auditing Journey in the Public Sector” at Manikganj.

Khairuzzaman said financial management is not solely the responsibility of the Ministry of Finance, all government spending entities are involved in this process.

As a result, the Ministry of Finance is piloting internal auditing in five high-expenditure departments—Directorate of Primary Education, Roads and Highways Department, Public Works Department, Local Government Engineering Department and Directorate General of Health Services, he added.

Dr Mozumder said this initiative is expected to have long-term impacts, with plans underway to gradually expand it across other government entities.

Finance Division Additional Secretary Shirajun Noor Chowdhury presided over it while Director General of the Directorate of Primary Education Dr Md Abdul Hakim, Chief Engineer of the Roads and Highways Department Syed Moinul Hasan, and Additional Chief Engineer of the Public Works Department Md. Shafiqul Islam were present as a special guests.

Sirajun Noor Chowdhury highlighted the critical role of internal audits in establishing internal controls and ensuring transparency and accountability in financial management.

Md. Shafiqul Islam noted the importance of digitising the system while enhancing the skills of users, particularly vendors.

Dr. Md. Abdul Hakim stressed the necessity of institutional capacity building for the implementation of internal audits.

Presentations on various aspects of internal auditing were delivered during the inaugural session by Finance Division Joint Secretary Mohammad Azad Sallal, Joint Secretary and Programme Executive and Coordinator, SPFMS Md. Rafiqul Islam and Finance Division Deputy Secretary Mohammad Shawkat Ullah.

The presentations emphasised the importance of establishing an independent Internal Audit Unit (IAU) and creating a standardised organogram for the reporting line. Additionally, recommendations were made to form internal audit committees in ministries and divisions to address audit observations on a priority basis in line with a risk-based internal audit manual.