Internal Audit Department

WELCOME TO INTERNAL AUDIT

Welcome to Larimar Internal Audit Department (LIAD). The information provides an overview of the internal audit activities Larimar.  Please do not hesitate to contact us should you have any questions.
 
What is Internal Auditing?

Internal auditing is an independent, objective assurance and advisory activity designed to add value and improve Larimar’s operations.  It helps Larimar accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.

Independence is established by the organizational and reporting structure. Objectivity is achieved by an appropriate mind-set.

The internal audit activity evaluates risk exposures relating to the Larimar's governance, operations and information systems, in relation to:

  • Effectiveness and efficiency of operations.
  • Reliability and integrity of financial and operational information.
  • Safeguarding of assets.
  • Compliance with laws, regulations, and contracts.

Reporting Relationship

The Larimar Internal Audit department reports functionally to the Audit Committee of the Board and administratively to the Managing Director for the purpose of day-to-day administration of the department and its finances.

DIFFERENT TYPES OF AUDITS

Any staff member or management of the Larimar Group may approach us to request any or a combination of the audit services listed below. The prescribed and approved audit protocol will be followed in obtaining approval for the service required.

In the performance of our work, we adhere to and follow the principles as set out in the Larimar’s   Internal Audit Department Charter.

Audits are based on an audit plan, but ad hoc projects are also performed depending on the resources available within the department. The following types of audits are performed:

Audit type

Brief description

Operational

A complete review of the audit area

Financial

Focus on the review of income, expenditure and other accounting items

Compliance

A review of the adherence to internal controls and laws

Process

A review of a process focusing on horizontal integration and interdependencies

Performance

A review of economy, efficiency and effectiveness

Information systems

Review of information systems, the systems environment and information generated by systems, data integrity and security

System evaluation and consultation                   

Pre-planning and pre - and post-implementation review, evaluation and advisory services

Forensic

Fraud, corruption and irregularity investigations

All internal auditing functions are performed within the framework of the objectives and policy of the Larimar Group, as well as, in accordance with the Code of Ethics and the Professional Internal Auditing Standards as laid down by the Institute of Internal Auditors.

Staff members

Position

Staff members

Telephone

E-mail address

Senior Internal Audit Manager  

Lindiwe Ginindza

011 602 0390

 

Internal Audit Manager:  IT, HR and Forensic Audits

LK Msiza

011 602 0390

Kennethm@Larimar.co.za

Internal Audit Manager: Operational Audits

J Mnyembane

011 602 0390

Joycem@larimar.co.za

Internal Audit Manager: Finance Audits

V Pillay

011 602 0326

VaishaP@Larimar.co.za

Internal Audit Manager: Technical

Vacant