The purpose of internal audit of public fund beneficiaries is to provide them with independent and objective insight into their operation, as well as advisory services aimed at adding value and upgrading their performance. Internal audit helps public fund beneficiaries achieve their goals through a systematic, disciplined approach in assessing and improving the effectiveness of risk management, control and management of the organization.

ЕМS is the first public utility in Serbia which established an internal audit unit. Since 2008, internal audit has been operating as functionally and organizationally independent department. The internal audit process is performed in accordance with the regulations governing internal audit in the public sector of the Republic of Serbia and the International Standards on Internal Audit. Internal regulations, which govern the work of internal audit of EMS, consist of:

• Internal Audit Charter
• Code of Ethics
• Internal Audit Guide

Internal Audit in EMS helps achieve the goals of the company by applying a systematic and disciplined approach in evaluating the financial management and control system in relation to:

• risk identification, risk assessment and risk management by managers of all levels
• compliance with laws, internal acts and contracts
• reliability and completeness of financial and other information
• efficiency, effectiveness and cost-effectiveness
• protection of assets and data (information)
• execution of tasks and achievement of goals.

Improvements recommended by internal audit are implemented in daily work.