Public Service Media (PSM) has decided to outsource its internal auditing.
The state-owned media company Friday said it decided to outsource an internal audit as the performance of its audit department has not been up to par and had failed to reach its goals over the past 14 months.
In a statement issued on Friday, PSM said that while the job of an audit department is to prepare an audit report, PSM's relevant department had not prepared such a report. The statement further said the decision to outsource the audit was taken after the audit committee reviewed the work of the company's audit department and determined that it would be most beneficial for the company to outsource the auditing work. The decision was taken after the board approved the decision of the company's audit committee, PSM said.
The statement also noted that PSM's audit department had prepared documents accusing some employees of the company during the past 14 months. These documents had been sent to the ACC for further investigation, it said.
