The fourth Annual Conference of the African Federation of Institutes of Internal Auditors, has ended in Accra with a call on African leaders to improve on the conditions of service for internal auditors to improve service delivery.
Mr Yaw Osafo-Marfo, the Senior Minister, who made the call at the closing ceremony of the four-day conference, said it was prudent for internal auditors to be remunerated well to address the challenges that impede smooth delivery of their mandate.
The conference was held in collaboration with the Institute of Internal Auditors Ghana (IIA-Ghana) on the theme: “Enhancing Governance Effectiveness with Insightful Internal Audit.”
The workshop is to equip the Board, Chief Executive Officers and Audit Committee members to perform their oversight responsibilities effectively.
The Senior Minister said one of the problems facing Africa was corruption; due to weak systems and there was the need to expand the boundary of good governance for stakeholders in the fight against corruption in the public sector.
Mr Osafo-Marfo said during his reign as the Minister of Finance, he spearheaded three legislations in the internal audit system-the Public Procurement Act 2003, the Internal Agency Act 2003 and the Financial Distribution Act 2003.
He noted that due to political and tribal affiliations, internal auditors had refused to come out with the accurate findings of report because of influence, which affected the image of the profession.
Mr Osafo-Marfo said an internal auditor must have a cool head to work and ensure that system work according to the rules and regulations governing the profession.
He said they act as sound checks and balances in governance.
“Good internal auditors help to save an institution a big sum of money through effective findings and diligence.
“Practitioners are expected to function to safeguard and strengthen the scope of knowledge through quality counselling to management,” he added.
Mr Osafo-Marfo was of the view that internal auditors was a multi-disciplinary approach and that practitioners must be ready to demonstrate solid ground to earn the trust and confidence of management.
He appealed to internal auditors to help government to save millions of dollars by protecting the country’s purse through professionalism in their field of work.
Mr Richard Ntim, President of Institute of Internal Auditor, Ghana at the end of the conference, came out with a resolution that internal auditors cannot succeed if was not accepted as a trusted advisor in the organisation as well as earn the trust through the quality of works.
Also among the resolution was that internal auditor must remain resolute, cool and level headed to make the right recommendation to the benefit of the organisation.
Mr Ntim said the conference resolved that internal auditors role in fiscal management should not be taken for granted and that internal auditors must be embedded in the processes leading to the development of the profession.
The conference resolved that the fast pace of change in ICT makes it imperative for internal auditors to make good use of technology in the discharge of its duty for effective and efficient delivering.
Mr Ntim observed that the conference made a resolute that there should be quality assurance framework to assist the internal auditors to deliver the much expected value to the institution.