ISLAMABAD: Apropos story published in Business Recorder titled “AGP unearths Rs13bn embezzlement in BISP” on 12th October 2022, it is clarified that Internal Audit of BISP has timely recommended preventive, corrective and detective controls in the system for mitigating the chances of malpractices.
An independent Internal Audit Wing as per provision 15(2) given in the BISP, Act, 2010 is functional at BISP for internal audit of the programme and reports directly to the BISP Board.
BISP Internal Audit Wing is adhering the international standards of professional practices and evaluates the effectiveness of risk management, internal controls and governance processes of the BISP for bringing operational efficiency and effectiveness.
Audit Committee of the BISP Board reviews the audit reports for implementation of the recommendations of the Internal Audit Wing by the management.
Considering the diversified portfolio of BISP programmes, latest data analysis techniques and emerging audit techniques are being used by the Internal Audit.
Copyright Business Recorder, 2022
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