DoF appoints head of internal audit service

THE DEPARTMENT of Finance (DoF) said it appointed Director Ma. Luisa M. Notario of the Central Financial Management Off ice to head the new Internal Audit Service (IAS).

In a statement, the DoF said it became the first government agency to set up an IAS, in compliance with a more than 50-yearold law as well as international standards of governance.

The appointment follows the adoption of a charter for the IAS, approved through Department Order No. 02-2018.

In 2016, the Commission on Audit adopted the Philippine Internal Auditing Framework for the Public Sector, which “provides authoritative guidance essential for the professional practice of internal auditing,” and is “aligned with the prevailing international principles and standards.”

An IAS in all government agencies was first required under Republic Act No. 3456, or the Internal Auditing Act of 1962, as amended by Republic Act 4177.

“The DoF- IAS is mandated to provide an independent objective assurance and advisory services designed to add value and improve DoF operations, including its bureaus and attached agencies,” Ms. Notario was quoted in the statement as saying.

The IAS Charter empowers the office, which is independent, to undertake “the objective examination of evidence for the purpose of providing independent assessments to the DoF Secretary on adequacy and effectiveness of governance, risk management and control processes of DoF.” —