Chilima urges Malawi internal auditors to be vigilant: Cucial to companies, organizations

Vice President, Dr. Saulosi Chilima has called upon companies and organizations to recognize internal auditors as crucial and not just as box tickers, or mere checkers, saying they play an important role in control and governance.

He made the call when he officially opened the 20th Annual Conference for the Institute of Internal Auditors at Sun n Sand in Mangochi.

The Vice President noted that many organizations in the country are yet to embrace the idea of having internal audit function, a perception he said ought to change,

“The internal auditor is the conscience of an organisation yet in many firms they are not given the same importance as Chief Finance Officer and other Executives,” Chilima said.

He added that, “I dare organizations and companies that are stuck in this mind-set to reflect and start giving prominence to the Head of Internal Audit as well for the benefit of their organizations.”

Chilima, who is also Minister of Economic Planning and Development and Public Sector Reforms,  challenged the Institute to show that internal audit plays distinct roles and that it is deployed as a game changer in an organisation.

The country’s second-in-command  dared the internal auditors to grow and migrate from the backroom into roles that are part of business leaders, and to also help in auditing performances of government ministries, departments and agencies amid the public sector reforms that are being implemented.

He advised the institute to encourage its members to be more professional, and to get themselves properly certified and to be proud to be internal auditors.

Chilima urged the internal auditors to “pursue the path of legislation to enhance the rules that govern the responsibilities of risk management and demand a greater transparency and accountability of senior management and Board of Directors.”

IIA President, Ackson Banda said the importance of internal auditors in companies and organisations and he urged all participants to take the conference as an opportunity to engage with one another and elevate the profession higher.

“With the much applauded reforms in public sector, there cannot be a better time to interact with one of the key architects of such remarkable developments and transformation in our country,” he said.

Banda added that “We are honoured to be guided by someone with admirable experience in both private and public sectors on matters of governance, risk management and control.”

The conference, which is being held under the theme Insightful Internal Auditing: Pushing Traditional Boundaries, has drawn internal auditors from government ministries, departments and agencies and private sector.

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