LAHORE, Oct 18: Punjab Finance Minister Sardar Hasnain Bahadur Dareshak said here on Saturday that separate cells of internal audit would be set up in provincial departments and the district governments.

He was speaking at a function held to award degrees to those who had passed the Certified Internal Auditors examination of the Institute of Internal Auditors, Pakistan.

Qualified people would be deputed to run the internal audit system, giving preference to certified internal auditors. Public institutions needed internal audit sections more than the private sector for good governance, implementation of government policies and transparency, he said.

Mr Dareshak assured all out support for the establishment of the internal audit sections which he said would administratively be independent and report directly to the head of the department concerned.

He expressed his satisfaction over what he said the interest shown by several district governments in establishing the system. He hoped that the institute would train the officials of the internal audit in district governments.

The institute president said over 76,000 internal auditors were holding key positions in 120 countries in the world. Steps had been taken to set up National Institute of Internal Auditors whereas new audit clubs would also be introduced in Peshawar, Multan and Faisalabad.

He said the creation of internal audit system had been proposed in the Controller General of Pakistan Ordinance and the Local Government Ordinance whereas the Security Exchange Commission of Pakistan had declared it compulsory for all corporate institutions in the country. —Staff Reporter