16 Nov 2014

The scale of corruption that is ravaging Botswana demands auditors to scrutinise contracts, government tender documents and procurement systems, BOCCIM president, Mr Lekwalo Mosienyane has said.

“If we fail to do that I am afraid that Botswana will be on a path that is not sustainable. As BOCCIM, we are ready to work with you and fight this scourge together,” he said. 

Officiating at the nstitute of Internal Auditors (IIA) annual conference, Mr Mosienyane said the fight against corruption needed concerted efforts between all Batswana and those residing in the country, adding that ‘if there is ever time when we needed auditors the most, it is now’. 

The three-day conference was meant for internal auditors to reflect on how best they could improve the way they conduct business.  The conference, Mr Mosienyane said, would go a long way in educating all assurance providers and creating an environment that enabled all stakeholders to work together in rooting out corruption. 

Although he acknowledged that government was doing its best to fight corruption, he said BOCCIM was concerned about the taxpayer’s millions of pula that had been squandered in failed projects such as Morupule B Power Station, stadiums and Sir Seretse Khama International Airport. 

“It would be remiss of us as representatives of the private sector and as tax payers to turn a blind eye when the tax payer’s hard earned money is wasted with impunity,” he added. 

For that reason, he said BOCCIM proposes the establishment of a commission chaired by a judge to review the circumstances that led to the situation and the perpetrators be brought to book. 

Such a comprehensive audit, he said, would go a long way in deterring fraud and corruption in the country. 

Therefore, as they embark on such a task, he said they would like to see internal auditors break the barriers and build bridges by providing them with technical expertise.

Furthermore, Mr Mosienyane called upon auditors to help build strong institutions based on the rule of law and not man, adding that ‘the good thing about institutions based on the rule of law is that they outlive all of us.” 

In such a situation, he said ‘you do not need favours from anybody. 

I therefore encourage you to share knowledge in order to fight fraud and corruption. 

After all, corruption is a huge impediment to doing business as it raises prices unnecessarily.” 

The work that internal auditors are doing, BOCCIM president said is important and goes a long way in redeeming the good name and integrity of the profession. 

The audit profession, Mr Mosienyane said was indispensable to the success, profitability and sustainability of all businesses. 

Internal auditors, he said, could no longer afford to operate in isolation from other departments, hence their decision to break down barriers and prevent business malpractice than react after the act has already occurred. 

In his keynote address, the chairperson of the King Committee on Corporate Governance in South Africa, Prof. Mervyn King said the independence of internal auditors was critical in the modern governance, as their quality and roles had increased and become more and more important. 

The profession, Prof. King said, safeguards investors’ interests, keeps the business on track and also supports the board of directors. ENDS