Where is IAID situated?

The IAID is situated at Valletta Buildings, Lower Ground Floor, South Street, Valletta, VLT 1103

What is internal audit?
"Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve government’s operations by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management and control."

adopted from IIA - Institute of Internal Auditors

What is financial investigation?

Financial Investigation means the in-depth examination of all circumstances relative to irregularities and cases of suspected fraud, including the corruption of public officers, and, in that regard, the acquiring of records and, or, information and the carrying out of related assignments, analysis and recommendations, such financial investigation being limited in scope to the financial implications that could arise out of such an irregularity or suspected fraud.
 
What circumstance might lead to mismanagement or fraud?

• management does not monitor significant controls adequately
• high turnover of management
• significant, unusual or highly complex transactions
• entity has powers to award contracts and consequently approve also large variations
• no adequate physical safeguards over cash, inventory or fixed assets
• entity processes or keeps custody of large amounts of cash