Internal Auditors in the country are pushing for better resourcing to be able to effectively deliver on their mandate of propelling the growth of organisations.
According to them, they play critical roles in ensuring that management decisions and programmes are executed by staff to the best of their knowledge, devoid of short-cuts.
Speaking at the press launch of the ‘International Internal Audit Awareness Month’ slated for the whole of May, the president of the Institute of Internal Auditors (IIA), Daniel Quampah, said the workplace is fast-evolving – especially with the advent of the new normal; therefore, businesses, public and private organisations and enterprises should step up efforts at resourcing the audit department.
“We are the eyes and ears of management among the staff, and therefore we need to be properly resourced to check all that is happening in the workplace and ensure that compliance is high. Even before COVID, the advancement of technology had brought a lot of efficiency to the duties of auditors; one would not have to travel to be able to embark on an audit job, but in the country it seems there are some gaps which need to be checked,” Mr. Quampah told B&FT on the sidelines of the press launch.
He added that the Board of Directors and Management have to repose a lot of confidence in their auditing department by adequately resourcing them as it would go a long way to protect organizations and businesses from lapsing.
He said internal auditing is vital in strengthening corporate governance and safeguarding stakeholders’ interests in the public and private sectors. Also, it helps enhance the management of risks organisations face and ensures policies, procedures, and controls are in place and are working effectively.
“Needless to say, a strong control environment in both public and private organisations will go a long way in promoting efficient utilisation of resources and positive outcomes for all stakeholders.
It is in this vein that internal auditing is an established profession, led by the Institute of Internal Auditors, with a globally recognised mission, code of ethics and international standards for the professional practice of internal auditing.
It is worth noting that the control environment in the public and private sectors is increasingly becoming sophisticated, requiring internal auditors to have specialised knowledge and skills in various areas. A recent survey by The IIA’s Audit Executive Center indicates that audit executives are now recruiting job applicants with analytical/critical thinking ability, data mining, business acumen, and IT skills,” Mr. Quampah.
Touching on the commemoration of the ‘International Internal Audit Awareness Month’ he said: “the Institute of Internal Auditors (IIAG) Ghana, in collaboration with the Internal Audit Agency, has lined up several interesting activities for discussion as part of this launch. I hope that the internal audit profession will receive the recognition it deserves from key stakeholders, and that the importance of the profession is understood and embraced by all.”