Internal Audit Directorate

The Internal Audit Directorate implements the internal audit function of all structures, programmes, activities and processes in the Ministry of Energy, including EU-funds spending units, second level budgetary spending units to the Ministry of Energy, commercial enterprises under Article 61 of the Commerce Act and state-owned enterprises under Article 62, paragraph 3 of the Commerce Act, which do not have an independent internal audit unit.

The Internal Audit Directorate:

• plans, conducts and reports on its activity in compliance with the Internal Audit in the Public Sector Standards, the Internal Auditors Code of Ethics, the Internal Audit Charter and the internal audit methodology in the public sector, endorsed by the Minister of Finance;
• prepares, on the basis of a risk assessment, a 3-year strategic plan and an annual audit plan, approved by the Minister;
• provides an independent and unbiased opinion on the state of the audited financial management and control systems;
• conducts an assessment of risk identification, risk evaluation and risk management processes, implemented by the Minister;
• monitors and assesses compliance with legislation, internal rules and contracts; reliability and comprehensiveness of the financial and operational information; safeguarding of assets and information as well as effectiveness, efficiency and economy of operations and implementation of contracts and commitments and the achievement of the organization's goals;
• reports to the Minister and the heads of audited units the results of the conducted audit engagements and prepares written audit reports;performs consulting services to the Minister upon request by providing advice, opinion, training, etc. in order to improve the processes of risk management and control without assuming managerial accountability therefore;
• makes appropriate recommendations for enhancing the adequacy and effectiveness of the financial management and control systems and performs a follow-up review on the implementation of those recommendations.