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REPUBLIC
ACT NO. 4177
REPUBLIC ACT NO. 4177 - AN ACT TO
AMEND SECTIONS TWO, THREE AND FOUR OF REPUBLIC ACT NUMBERED THREE
THOUSAND FOUR HUNDRED FIFTY-SIX, KNOWN AS "INTERNAL AUDITING ACT OF
1962"
Section 1. Section s two, three and four of Republic Act
Numbered Three thousand four hundred fifty-six, otherwise known as the
Internal Auditing Act of 1962, are amended to read as follows:
"Sec. 2. There shall be created, organized and
operated in all branches, subdivisions and instrumentalities of the
government, including government-owned and/or controlled corporations
to be known as agency for purposes of this Act, internal audit services
which shall assist management to achieve an efficient and effective
fiscal administration and performance of agency affairs and functions.
"Sec. 3. The Internal Audit Service shall be under
the direct administrative supervision and control of the heads and/or
assistant heads of the agency. It shall be organized as an independent
staff unit and shall correspondingly perform staff functions. It shall
be responsible for instituting and conducting a program of internal
audit for the agency. The chief of the Internal Audit Service shall
have the rank and salary equivalent to the third ranking official of
the agency. He shall report directly to the head or assistant head of
the agency.
"Sec. 4. The Auditor General shall be responsible for
the promulgation and enforcement of general policies, rules and
regulations on internal auditing, non-compliance or disregard of which
shall be considered as a breach of official duty and may be used as a
basis for an administrative action against the defaulting official. He
shall coordinate government internal auditing activities and schedule
the gradual installation of internal audit services in all branches,
subdivisions and instrumentalities of the government, including
government-owned and/or controlled corporations, and shall develop for
execution, working plans and training programs to maintain continuously
the effectiveness of these internal audit services. The Internal
Auditing Coordinating Department of the General Auditing Office shall
assist the Auditor General in the discharge of these responsibilities."
Sec. 2. This Act shall take effect upon its
approval.
Approved: March 26, 1965
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