IIA to shape auditors on CAG report flaws

THE Institute of Internal Auditors (IIA) has identified flaws that emerged in the Controller and Auditor General (CAG)’s report and used them to shape internal auditors to reduce damage in the institutions they serve.

Some of the flaws exposed in the CAG report are the collection and expenditure of funds in the Local Government Authorities (LGAs), in public procurements procedures and in the management of various projects that were implemented by Tanzania Telecommunications Corporation (TTCL) and TANESCO.

IIA Tanzania President, Ms Zelia Njeza, said yesterday that internal auditors know what keeps businesses thriving today and growing tomorrow and it is important to keep them updated on auditing issues.

“We have gone through the CAG report, identified the shortcomings and will use them as topics and training materials during our meetings with internal auditors (at their organisation) to address them,” she said when launching May as the internal audit awareness month.

The theme for this year’s May Internal Audit Month is ‘Inside you make an Impact’.

She added that the aim of marking May as an awareness month is not only to dispel misperceptions of the profession, but also, to enhance the business communities in the country and across the world on the knowledge of the essential role internal auditing plays in strong organisational governance, internal control, and effective risk management.

“When management and boards of directors come to fully appreciate the value of internal auditing, they ensure the internal audit activity is adequately sourced and effectively utilised,” she said.

Despite the key role that internal auditors perform, they face challenges varying from insufficient resources, and lack of sufficient training to reporting lines which impact their independence, objectivity and rewards and benefits.

“We urge that they continue considering these challenges and ensure they are resolved effectively and timely,” she added.

IIA Tanzania is a professional institute that brings together internal audit practitioners and interested parties in internal audit in the country as members. It was registered in 2006.