The Internal Audit Service (IAS) provides assurance to the Executive Director and top management on the adequacy of controls within all financial and operating systems, based on the risks to which the Ministry may be exposed. It provides management with relevant, reliable and objective information on the effectiveness of systems and practices to ensure achievement of strategic and operational objectives.

The mission of the Internal Audit Service is to enhance and protect organisational value by providing risk-based and objective assurance, advice, and insight. The IAS provides high-value assurance and consulting services to assist both policy-makers and functional managers in delivering quality services that are accountable, efficient, effective, and ethical.

The Internal Audit Service follows the Standards for the Professional Practice of Internal Auditing established by the Institute of Internal Auditors, in compliance with the Public Sector Internal Audit Policy of Namibia. These standards specify the requirements of professional internal auditing including independence, proficiency, scope of work, and administration.

Internal auditors report administratively to the Executive Director and functionally to the Audit Committee. To perform audits effectively, full access to records, properties and personnel is required. All information pertaining to audits is confidential, however final audit reports form part of the Ministry of Finance's official records.

The Internal Audit mandate and responsibility are derived from the approved Internal Audit Charter. The State Finance Act of 1991, Sections 14 and 15, provide for the appointment of Internal Auditors and authorise their access to accounts, documents, and records to perform their audit duties.

The Head of the Internal Audit Service (Deputy Director) maintains an overview of all audit activities at the Ministry. The Head of Internal Audit interfaces with outside agencies such as the Government Internal Audit and Policy Coordination unit and the Office of the Auditor General, and should be kept informed about all audit activities within the Ministry.

Where agencies such as the Office of the Auditor General notify top management about upcoming audits or send draft or final audit reports to departments and divisions, recipients are requested to provide copies to Internal Audit, unless the Head of Internal Audit Service is already included on the copy list.

Consulting services are advisory in nature and are generally performed at the specific request of management. The objectives and types of work performed are collaboratively determined with top management. Examples include:

• Reviewing client-prepared responses to Auditor General audit reports.
• Training on fraud prevention, internal controls, and risk assessment processes.
• Analysing client or third-party prepared data.
• Scribing client-facilitated risk assessment exercises.

The manner in which such services are performed is generally agreed with top management before work commences. Upon completion, a customer satisfaction survey may be requested to continually improve service delivery.