The main purpose of the Internal Audit is to out-line the purpose, nature and scope of operation system of a company.
Internal Audit helps the organisation to accomplish its objectives by bringing a systematic and discipline approach to evaluate and improve the effectiveness of risk management, control and procedures (i.e. internal control system).
Based on the above analysis, find below the operational system in carrying out their functions in ENL Consortium Limited:
Bill approval: All bills raised by commercial department be it provisional, Rent, Consignee and Miscellaneous Bills are duely checked by the department before final release to the customer for payment.
Payment: payment made by Customer are also checked by the department by reconciling the bank teller (i.e. A/C no., Stamp, Name and Amount both in words and figure) with the amount on the bill before receipt are issued to the customers.
Procurement: Request from the users department to Admin Dept.
Calls for LPO from suppliers
Verification of LPO via market survey
Approval of the fair and reasonable one
Supply of goods and certification as to conformity
Payment to the supplier.
Investigation of Claim: The Internal Audit department performs investigation in response to allegations and claims received by our office from internal and external sources (e.g. Clearing Agent, Shipping Agent, consignee and relevant department within).
Allegations and claims are investigated based on assessment of source documents such as Tally Sheet, Daily Cargo Discharge, Manifest, Vessel flat File, ROB, and other relevant documents.
This section is responsible for printing out the exit and releasing of cargo to clearing and forwarding agent, the following are required:
Bill of lading
Release slip (original and photocopy).
Assessment note.
SGD printout.
Custom Inspection act
Original and photocopy of debit notes and receipt of payment when the required documents are in place and are properly checked, the releasing officer can now release the cargo via ASYCUDAH. Debit notes are to be checked for demurrage purposes.
If cargo is on red or yellow that means the custom has not released.
If cargo is on green or blue custom has released that is the cargo has been rerouted and can be delivered to the clearing agent.
When a cargo has been released documents are passed to this section for issuance of tally sheet and vehicle entry permit to the terminal. The tally sheet is coded with agent information e.g. vessel name, type of cargo, ship of company name, importers name, name o clearing agent, tonnage and number of cargo. Tally sheet used in the terminal for cargo pass with registers are returned to commercial for proper filling and determine the number of trucks that entered and went out on daily basis and outstanding balance of cargo at the terminal.
Documents are provided for the reconciliation of these vessels and an actual tonnage worked to be taken to reconciliation meeting a NPA, comprises of all stakeholders.After the stakeholders meeting at NPA, reconciliation sheets are distributed. This document is used for the final billing on the vessel with other document which includes the following:
Provisional bill with receipt of payment
Masters declaration document
Import shipment operationsummary (isos)
Plant on board document
Extra service document
Cleaning document
Amendment document if any
Draft from surveyor
Reconciliation sheet from NPA voyage meeting
Productivity report on vessels
Additional manifest document if any
Pre-voyage meeting report sheet
All these documents must be stamped and signed by authorised persons e.g. customs, shipping company, clearing agent.
