About Us
History & Development History & Development
The Origins of Internal Audit in the Thai Public Sector
Internal audit work in the Thai public sector has evolved and adapted to the context of public administration over a long period, marked by the following key milestones.
- 1
1962
Internal audit work in the public sector first began with the “Treasury Disbursement Regulations B.E. 2505 (1962),” which required the head of each government agency to appoint an official to audit disbursements and report the results directly to the head of the agency.
- 2
1973 – 1989
The working model shifted from a financial audit committee arrangement to the establishment of a dedicated “Internal Auditor” position. The Ministry of Finance subsequently drove the systematization of internal audit as a tool for monitoring management performance, leading to the issuance of the Ministry of Finance Regulation on Internal Audit of Government Agencies B.E. 2532 (1989).
- 3
1998 – 1999
The Cabinet resolved to establish an audit committee in every ministry, and the Ministry of Finance issued the Ministry of Finance Regulation on Internal Audit of Government Agencies B.E. 2542 (1999), which formally marked the point at which government agencies were required to establish an “Internal Audit Unit” within their organizational structure.
- 4
2008
The Ministry of Finance Regulation on Internal Audit of Government Agencies was revised and reissued as the B.E. 2551 (2008) edition, elevating practice to align with international standards (the IIA). During this period, the role of the public-sector internal auditor shifted decisively from “fault-finder” to full “provider of assurance and consulting services.”
- 5
2014
The Comptroller General’s Department developed frameworks, standards, manuals, and performance evaluation criteria to serve as a mechanism for raising the quality of internal audit work across government agencies to a single, nationwide standard.
- 6
2018
Public-sector internal audit reached its strongest position to date with the enactment of the Fiscal and Financial Discipline of the State Act B.E. 2561 (2018), Section 79 of which explicitly requires state agencies to establish internal audit, internal control, and risk management functions — giving internal audit work formal standing under an Act of Parliament.
- 7
Present
The Ministry of Finance, through the Comptroller General’s Department, has issued the Internal Audit Practice Guidelines for Government Agencies B.E. 2561 (2018) (as amended) to serve as the operating framework, with an emphasis on risk assessment, performance improvement (Performance Audit), and the application of technology to support data analysis.
The Way Forward for the KMUTT Internal Audit Unit
Building on this foundation, the Internal Audit Unit of King Mongkut’s University of Technology Thonburi (KMUTT) is committed to serving as a strategic partner that adds value and helps improve the university’s operations. We adhere to the new Global Internal Audit Standards (GIAS) alongside the regulations of the Ministry of Finance, to provide assurance that the university’s administration is transparent, efficient, and achieves its mission objectives.
Vision
Audit with creativity, uphold good governance, and advance toward international audit standards.
Mission
To provide assurance and consulting services with fairness, transparency, and independence, focused on evaluating and strengthening the effectiveness of governance, risk management, and internal control systems, in order to support the achievement of strategic objectives in a transparent and efficient manner, consistent with regulations and professional standards.
Ultimate Goal
To promote and support the achievement of strategic objectives in a transparent and efficient manner, consistent with regulations and professional standards.
Core Objectives
01
Assurance ServicesAssurance Services
To independently and objectively assess and provide opinions on whether the university’s governance, risk management, and internal control systems are adequate and effective, covering compliance audit, performance/operation audit, information system audit, and financial audit.
02
Risk Management and Internal ControlRisk & Control
To review the governance processes for risk assessment and management, as well as to strengthen internal control systems, while providing recommendations for improvement, development, and the prevention of potential errors or fraud.
03
Consulting ServicesConsulting Services
To provide advice, guidance, and joint analysis of issues for units within the university, with a focus on improving work processes, designing new control systems, or managing risk in key projects.
04
Governance SupportGovernance Support
To support the Audit Committee, senior executives, and the management of audited units in receiving accurate, complete, and sufficient information for decision-making, so as to provide assurance that operations are transparent, auditable, and accountable to stakeholders.
05
Fraud Prevention and MonitoringFraud Risk Management
To assess the likelihood of fraud occurring, develop audit systems to identify anomalies or “Red Flags,” and promote a culture of transparency and integrity in operations.
06
Life and Asset SafetySafeguarding of Assets & Life Safety
To audit measures for safeguarding assets against loss or damage, provide assurance on safety and occupational health systems, and review the readiness of business continuity plans for various emergencies.
Our Services Our Services
01
Assurance ServicesAssurance Services
The objective examination of evidence for the purpose of providing an independent conclusion and assessment, covering performance, compliance, financial, and information system audits.
02
Consulting ServicesConsulting Services
The provision of advice or other services as agreed with the service recipient, intended to add value and improve the organization’s management processes, while strictly maintaining independence.
Structure and Independence Independence & Objectivity
To ensure that operations are conducted in a transparent manner, with independence, free from interference, and without conflicts of interest, the reporting structure of the Internal Audit Unit is as follows.
- Functional Reporting: Reports directly to the “Audit Committee” and the University Council.
- Administrative Reporting: Reports directly to the “President.”
Core Values and Professional Code of Conduct Core Values & Ethics
Every member of the Internal Audit Unit’s staff strictly adheres to the following principles of professional ethics.
IntegrityIntegrity
Perform duties with honesty, a sense of responsibility, and do not participate in activities that could discredit the profession.
ObjectivityObjectivity
Maintain a neutral, unbiased stance and do not accept any consideration that could impair professional judgment.
ConfidentialityConfidentiality
Safeguard information rigorously and do not disclose it without proper authorization.
CompetencyCompetency
Perform only work within one’s area of knowledge and ability, and continuously develop professional skills.
Due Professional CareDue Professional Care
Exercise sound judgment appropriate to the complexity and risk of the engagement.
Innovation and Data-DrivenInnovation & Data-Driven
Apply information technology and data analytics to support the audit process, ensuring accuracy and timely responsiveness to emerging risks.
Value-Added FocusValue-Added Focus
Elevate the role from compliance auditing to that of a strategic advisory partner, with a primary focus on performance auditing, to help improve the organization’s operations.
Operating Principles 4E
The Internal Audit Unit adheres to the Global Internal Audit Standards (GIAS) and the regulations of the Ministry of Finance, and follows the 4E framework, as set out below.
01
EfficiencyEfficiency
Operations that make the best possible use of available resources — budget, personnel, and time — for maximum benefit. This assesses whether processes are streamlined, reduce redundancy, and make use of information technology to work faster and more smoothly.
02
EffectivenessEffectiveness
Operations that fully achieve their stated objectives and goals, with 70% weight given to the assessment of performance results, to provide assurance that projects or activities generate a genuine positive impact and truly deliver on the organization’s strategic plan.
03
EconomyEconomy
Consideration of operating costs, with a focus on ensuring that spending is appropriate and as economical as possible while maintaining the same or improved standards and quality of work. Auditing in this dimension helps prevent leakage and reduce the waste of organizational resources.
04
EthicsEthics
Strict conduct in accordance with professional ethics, upholding honesty, integrity, transparency, and confidentiality of information — the essential foundation for building trust with all stakeholders in line with international standards.