Works of the IAO include:

• Review the reliability, integrity, security and adequacy of financial and operating systems;

• Develop and submit the annual internal audit budget and resource plan to the Audit Committee for review and approval;

• Develop and submit the annual audit plan prepared by using an appropriate risk-based methodology to the Audit Committee for review and approval, as well as periodic updates as to the status of the plan;

• Implement the approved audit plan and any other special tasks or projects as requested by the Audit Committee;

• Maintain professionalism with sufficient knowledge, skills and experience to meet the job requirements;

• Issue periodic reports to the Audit Committee and the management with summary of projects accomplished and their status and issues; and

• Conduct investigation of alleged financial and operational misconduct.