January 20, 2017
In a bid to enhance the effectiveness and efficiency of the internal audit function in the bank, the Bank of Sierra Leone has created a Quality Assurance and Improvement Programme Division, in the internal Audit Department of the Bank.
The new division will facilitate and enhance the internal assessment function of the bank’s Internal Auditors and add value to an improve delivery and operation of internal audit service across the Bank.
Quality assurance and improvement Programmes are a critical standard for internal self-assessment recognised by the IMF Safeguards Assessment mechanism as well as the First Initiative of the World Bank.
The Division will be independent of the audit consulting segment of the Internal Audit Department of the Bank to ensure that the internal quality assurance and improvement programme overseen by the Department is sustainable and within the acceptable quality benchmark.
The Division will now develop and implement quality assurance, improvement procedures and systems for the Internal Audit Function in the Bank.