20 Nov 2023

Internal auditors have been urged to embrace an entirely new mindset to transform themselves to become more agile.

Speaking during the 12th annual Institute of Internal Auditors Botswana (IIAB) gala dinner in Gaborone on November 17, British High Commissioner, Ms Sian Price, said internal auditors needed to be able to add value in a nimble way in response to disruptions and evolving risks faced by organisations.

Ms Price said the environment in which organisations, either public and private, were operating in was volatile and needed uncompromised corporate governance and ethics. “It requires a mind set that supports innovation in the internal audit process to better enhance and protect organizational value,” she said.

She said there was a requirement for internal auditors to adopt new technologies to effectively and efficiently deliver value for their stakeholders, hence the call for digital transformation.

“The key benefit of which is increased efficiency and productivity,” she said.

Ms Price said while IIAB made significant progress in the development of the profession, it was disappointing to learn however that at the end of September 2023, only about 409 internal auditors out of a total membership of more than 1500 were in good standing.

“Consequently, this means there is a higher proportion of practising internal auditors in the Botswana economy who are not in good standing,” she stated.

Ms Price thus encouraged all employers to ensure that their respective internal audit members were in good standing and practicing as certified internal auditors by the International Standards for the Professional Practice of Internal Auditing. 

She said that could continue to develop their expertise and professionalism with the IIAB’s support.

She congratulated the facilitators and speakers of the conference, stating that with their commitment and input, the conference had definitely been a success. ENDS