Technical Assistance for the Modernization of the Internal Audit Function of the Federal Government of Nigeria

Through this one-year, USD 259,000, World Bank-funded project, Cowater worked with the Federal Government of Nigeria on building the capacity of the Office of the Director General of Internal Audit of the Federal Government of Nigeria to bring their internal audit functions on par with other countries, while making them compliant with international internal auditing standards and best practices. The project undertook key activities such as a comprehensive review of National Audit Laws and Regulations; development of an Internal Audit Modernization Strategy and communication plan; creation of an Internal Audit Manual, complying with international standards and best practices; conducting pilot audits with internal staff; capacity building sessions for staff of the Office of the Director General on Internal Audit on various audit topics, including risk-based internal audit, financial audit, IT audit, and using Computer Assisted Audit Techniques (CAATs) to undertake IT audits; and the creation an Audit Quality Assurance and Improvement Program within the Federal Government of Nigeria.