The Department of Agrarian Reform (DAR) will include risk management in its annual audit plan, citing its Internal Audit Division (IAD) is already organizing its audit activities.
Acting Secretary David Erro said they are conducting a three-day seminar workshop on the integration of risk assessment in strategic and operations planning from June 27 until June 30.
Lawyer Edwin Mendame Jr., IAD director, said that in the past strategic and operations planning processes of DAR, risks were not taken into account.
This, he said, has led to the selection of mistaken strategies or the absence of a strategy important to the achievement of the DAR’s identified objectives, he noted.
“It was during the 2021 year-end assessment that the IAD emphasized the need to identify, assess and manage the risks that go with the implementation of the program,” he added.
The risk management process is a critical part of providing sound governance that can assist in identifying the key controls related to the agency’s significant activities.
“The implementation of key controls is one common method to manage risks. The Internal Auditors assess these key controls and provide assurance on the management of the significant risks,” Mendame said.
The activity was conceptualized in coordination with the planning service as a prelude to the proposed strategic planning activity to be spearheaded in the third quarter of 2022.