March 2011: Cowater to Work on Improving Internal Audit with Government of Bihar State, India
Cowater recently signed a contract with the World Bank, which is supporting the Government of Bihar to strengthen its Public Expenditure Management capacity through streamlining of financial business processes including processes for budget preparation approval and execution, internal controls and audit, procurement, accounting and financial reporting. As part of the overall support, the Government of Bihar wishes to field test the “Risk-Based Internal Audit” strategy by way of pilot(s) and at the same time build the capacity of its internal audit staff. Cowater has been selected to provide the services and field test the draft internal audit strategy and audit manual, in partnership with a core team selected from the Internal Audit Department of Government of Bihar. The overall objective is to (i) assess the robustness and validity of the strategy and the audit manual, and suggest changes where necessary; and (ii) build the capacity of a core team within the Government of Bihar Internal Audit Department.
This latest contract for Cowater demonstrates the firm’s strong reputation for public sector auditing worldwide, and follows recent internal audit work in Nigeria and Rwanda.