07 Nov 2019

Global Institute of Internal Auditors vice chairperson,

Ms Jenitha John says it is important for internal auditors to adapt to the changing corporate landscape within the business ecosystem.

Speaking during the commencement of a three-day annual internal auditors conference  in Gaborone on Wednesday, Ms John noted that  internal auditors needed to be alert to corporate scandals happening all over the corporate world and to pick up any red flags that could collapse their respective organisations.

She urged participants to keep up with the latest developments in the corporate world in order to ensure that they were able to anticipate governance issues. She said capacity training and policy issues in and out of the organisation were important to minimise risk and non-compliance issues.

She further noted that internal auditors needed to understand the alignment of Knowledge Performance Indicators (KPIs), which she said was paramount to understanding governance and ethics perspectives in order to demand disclosures from governance structures.

Ms John further revealed that it was important for internal auditors to avoid relying on management estimates and objectives.

The president of the Internal Auditors Association of Botswana, Ms Margret Mushango said there was still a shortage of internal auditors in the country.

She further revealed that more training was required for internal auditors, noting that they also need to be more vigilant to address corruption issues.

Ms Mushango noted that internal auditing was one of the most important cornerstones of governance and that the convergence of disciplines such as anti-money laundering, compliance, risk management and assurance required well rounded internal auditors who did not merely depend on external auditors.

Furthermore, she noted that such conferences afforded internal audit professionals a chance to improve knowledge and shine a spotlight on challenges facing the governance structures within organisations. ENDS