The Central Bank of Kenya (Mortgage Refinance Companies) Regulations, 2019

46. Audit plan

Edition: 2022-12-31 · In force

46. Audit plan

(1)Every internal auditor shall prepare an annual audit work plan for the assignments to be performed during the next financial year and present it to the audit committee for review.

(2)The annual audit plan shall include—

(a)the scope;

(b)objective;

(c)timing;

(d)frequency; and

(e)resources of the planned internal audit work.

(3)The report of the internal auditor shall contain the findings and recommendations as well as the responses of the officers.

(4)The reports and working papers of the internal auditors shall be kept for at least five years.

(5)The audit committee shall follow up its recommendations to verify whether the recommendations provided are implemented and the status of the recommendations shall be communicated to the audit committee at least on a quarterly basis and permanent coordination shall be maintained with all functional officers.

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Source: Kenya Law