Improving Governance in Education Field: Role...

Improving Governance in Education Field: Role of Technical Guide in Internal Audit of Educational Institutions

Author Name : Dr. Sushil Kumar Singh

ABSTRACT Education is the starting point of every successful human activity. Education makes a person right thinker and a correct decision maker. The role played by educational institutions in the process of growth and persistent advancement of countries is accepted by everybody and education is regarded as a main base of advancement and progress. In a way, the educational institutions at various levels constitute the foundation of the technological, administrative, civic, legal and other domains of a country. In India education is rendered both by the government institutions and private institutions, partly aided or unaided, at primary, secondary and higher levels. In order to ensure sustainable growth of this sector of national importance, adherence to the fundamental principles of efficient management, governance and accountability of financial resources assumes significant importance. Internal audit has emerged as an important tool to assist the educational institutions in achieving their goals and maximizing value to the society as a whole. It is important to note that the Internal Audit Standards Board of the Institutes has issued a “Technical Guide on Internal Audit of Educational Institutions” that primarily deals with the operational as well as internal audit aspects relevant for various types of educational institutions. The purpose of this paper was to introduce the delegates about the technical guide and analyze its significance for the internal audit of educational institutions.