16 Sep 2024

The Institute of Internal Auditors (IIA) Botswana has made strides in achieving requisite legislative reforms to ensure that Internal Auditors (IAs) are properly governed, Air Botswana’s Director of Legal Services and Board Secretary, Ms Moyombuya Ngubula has said.

Speaking during the 13th IIA Botswana gala dinner in Gaborone on Friday, Ms Ngubula expressed concern that whilst there were more than 1 500 IAs currently practicing in the country, including practitioners both at central and local government authorities, only about 400 were registered with the institute.

“To me, this is of great concern and there should be changes,” she said.

Ms Ngubula observed that this was mainly due to lack of legislation compelling IAs to register.

She, therefore, expressed delight that IIA Botswana was working around the clock to address the challenge, saying “this is an area requiring a mindset change and focus”.

Ms Ngubula cautioned that having practising IAs who are  unregistered, raised questions in terms of internal auditing standards they were adhering to, what qualifications they possessed, who held them accountable on IA technical matters and what continuous professional development curriculum they subscribed to.

She said it was important that the public was protected by having all practising IAs being members of the institute in good standing.

Ms Ngubula commended IIA Botswana for having successfully organised its 13th annual conference, under the theme: “Embracing digitalisation for enhanced governance, risk and compliance: Technology, a catalyst for success”.

She pointed out that digitalisation was not just a tool, but a catalyst.  Ms Ngubula said with digital tools, governance was also no longer just about adhering to certain rules or guidelines as it had evolved into a dynamic process that allowed organisations to operate with greater transparency, accountability and efficiency.

Ms Ngubula said technological advancement had also become a game changer in risk management, by introducing the ability to analyze vast amount of data, predict potential risks and develop pro-active strategies that could transform the way risks were approached.

Through digital platforms and the new technology, she said people no longer simply reacted to challenges, but anticipated them. Ms Ngubula said digitalisation was useful in creation of robust frameworks that mitigated risks before they even materialised to safeguard organisations from unforeseen destructions.

“Compliance, which is not a burden but an integral part of our operations, has also benefitted immensely from digitalisation,” she added.

She said with the landscape of regulation continually shifting, keeping up could be daunting, hence the need to leverage technology and seize opportunities as they arose through digitalisation.

She expressed delight that through automation of systems and Artificial Intelligence, organisations could now streamline compliance, and reduce human error. Ends