December 2013: Cowater to Enhance the Internal Audit Service of the Royal Government of Bhutan
Cowater has been selected by the Royal Government of Bhutan to provide technical support to the Central Coordinating Agency to enhance capacity of the internal auditors and to work with the Internal Audit Service (IAS) to develop a fully functioning internal audit unit. This World Bank funded project will include the following technical assistance activities:
- Development of an Institutional Strengthening Strategy that will upgrade the internal audit capability of the IAS by aligning the current internal audit manual with accordance to international standards and best practices in public section internal audit and the Bhutanese context
- Upgrading the Capacity to Conduct Internal Audit to improve capacity to conduct effective internal audits by implementing a risk-based audit approach in accordance with international standards and best practices in public sector internal audit.
- Enhancing the Impact of Internal Audit to improve the quality of internal audit report writing and to ensure that the reports are adequately disseminated by stakeholders leading to the implementation of audit recommendations.
- Training 20 Internal Auditors to prepare them to successfully complete the CIA/CGAP examinations.
This project will be managed by Cowater’s Public Financial Management and Accountability Group, a Cowater division recognized for its work to strengthen Supreme Audit Institutions and build public sector audit capacity worldwide.