INTERNAL AUDIT UNIT

Ventsislav Terzyiski – Head of the Internal Audit Unit

The Internal Audit Unit is directly subordinate to the Minister and performs internal audit under the Law on Internal Audit in the Public Sector.

The Head of the Internal Audit Unit reports directly to the Minister.

The Internal Audit Unit carries out internal audit of structures, programmes, activities and processes in the Ministry, including spending units with EU funds accounts, by:

  1. planning, performing and reporting on internal audit activities in accordance with the standards for internal audit in the public sector, Code of Ethics of Internal Auditors, Statute of the Internal Audit Unit and the methodology for internal audit in the public sector approved by the Minister of Finance;
  2. preparings, on the basis of risk assessment, a three-year strategic plan and an annual activity plan, which are approved by the Minister;
  3. giving an independent and objective assessment to the Minister of the current state of audited systems for financial management and control;
  4. evaluating the processes of identification, assessment and risk management, introduced by the Minister;
  5. inspecting and evaluating: compliance of activities with the laws, regulations and internal acts and contracts; reliability and comprehensiveness of financial and operational information; organisation of the protection of assets and information; effectiveness, efficiency and economy of operations; implementation of tasks, contracts, commitments and the objectives achieved;
  6. advising the Minister at her request, providing advice, opinions, training and other in order to improve the processes of risk management and control, without assuming management responsibility for this;
  7. submitting to and discussing with the Minister and with the heads of units under audit, the results of each audit engagement and presenting an audit report;
  8. making recommendations to the audit reports to improve the adequacy and effectiveness of financial management and control systems and carrying out inspections to monitor implementation of the recommendations under an action plan approved by the Minister or her authorised officer;
  9. preparing and submitting to the Minister an annual report on internal audit activities in accordance with Article 40 of the Law on Internal Audit in the Public Sector.