Objective for Establishment
According to Section 3.1 of the IAA Act, the objectives for the establishment of the IAA include the following:
“a. To manage the activities of internal audit functions in all Government entities as stated in 2.2 (a) to ensure a systematic and disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance.
- To provide for such entities professional, objective, assurance and consulting activities designed to add value and improve their operations.
- To ensure coordination, harmonization, and standardization of internal audit activities and facilitate internal audit functions foe effective results.
- To incorporate internal audit results into the priority-setting, planning, and decision-making processes of all ministries and agency
The Internal Audit Secretarial was established in December 2011 under the Ministry of Finance, Republic of Liberia, to provide an overarching legal and institutional framework within which to institutionalize, standardize and harmonize internal auditing across government. It was rooted in the Public Financial Management (PFM) Act of 2009 and the National Internal Audit Strategy of 2010 which called for an independent Internal Audit Secretarial. Its vision was that of an independent and objective assurance and consulting body that promotes continuous improvement in risk management, control and governance processes in the public sector; with a mission to support the Government achieves its objectives in a systematic and disciplined manner.
With the PFM Act, the Government recognized in 2013, after about four years of the PFM Act, that there was a need for a comprehensive internal audit function to strengthen the risk management, governance and control systems within the public service so as to achieve continuous performance improvement and effective service delivery in Government. Furthermore, the Government saw the compelling need for the Republic of Liberia to adopt the best in internal auditing practicable in Liberia and in line with international best practices and standards relative to internal auditing to assure that goals and objectives are achieved. Most importantly that internal auditing systems within the Government of Liberia were left vulnerable to abuses and thereby necessitating the need to establish an independent entity with Government to further strengthen the governance, risk management and control processes of Government. Based on these, the Internal Audit Agency (IAA) was created by the enactment of the IAA Act in 2013 by the House of Representative and Liberian Senate; signed into Law by the President and printed into handbill on September 13, 2013 to serve as an independent, objective, integrity and professional institution to govern and bring under its control all internal audit functions of the Government of Liberia.
OUR CORE VALUES
Vision
The vision of the IAA is to continue to be a robust and independent, and objective assurance and consulting body that promotes continuous improvement in risk management, control and governance processes in the public sector.
Mission
The mission of the IAA is to add value to the processes and systems of Government entities by performing independent and objective assurance and consulting services, thereby supporting client entities in achieving their goals and objectives in a systematic and disciplined manner.