Summary
· Gracing the event to proclaim May as Internal Audit Awareness Month in Dar es Salaam yesterday, the IIT President, Ms Zelia Njeza said after going through the CAG reports, they found a number of flaws that they will use to improve the internal auditors’ proficiency levels
Dar es Salaam. The Institute of Internal Auditors (IIA) said
yesterday that it has identified several faults in the report of the Controller
and Auditor General (CAG), which it will use to fine-tune the competency levels
of internal auditors so as to boost the credibility of the institutions they
serve.
Gracing the event to proclaim May as
Internal Audit Awareness Month in Dar es Salaam yesterday, the IIT President,
Ms Zelia Njeza said after going through the CAG reports, they found a number of
flaws that they will use to improve the internal auditors’ proficiency levels.
“We have gone through the CAG
report, identified the shortcomings, and will use them as topics and training
materials during our meetings with internal auditors,” she said. She did not
list the faults in the CAG reports, however.
IIA trainers will visit some
organisations this month to meet internal auditors so that they can increase
auditing efficiency in their organisations.
“Internal auditors know what keeps
businesses thriving today and growing tomorrow. Thus, it is important to keep
them updated on auditing issues to maintain the positive growth of their
institutions,” she noted.
The theme for this year’s May
internal Audit Month is Inside you make an Impact.
The theme reflects the vested
interests to see the positive impact of the internal audit work and the value
it adds to the organisations served, Ms Njeza said.
She noted that marking May as an
awareness month seeks to not only dispel misconceptions on the profession but
also enhance the business communities’ awareness of the essential role internal
auditing plays in strong organisational governance, internal control, and
effective risk management.
“When management and boards of
directors come to fully appreciate the value of internal auditing, they ensure
the internal audit activity is adequately sourced and effectively utilised,”
she said.
Through their varied roles and
responsibilities, internal auditors provide the organisation tremendous value
to ensure organisations achieve their operational and strategic goals
efficiently and sustainably.
Despite the key role that internal
auditors perform, they face challenges ranging from insufficient resources and
a lack of sufficient training to reporting lines that impact their
independence, objectivity, and rewards and benefits.
“We urge that they continue
considering these challenges and ensure they are resolved effectively and
timely,” she added.
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