Institute of Internal Audit holds first virtual annual Governance Conference

President of the Institute of Internal Auditors, Daniel Kofi Quampah

Internal Auditors have been tasked to be proactive by playing pivotal roles and moving away from the traditional and conventional approach to delivering their core mandate across the world.

Speaking at the first virtual Annual National Internal Auditors and Governance Conference in Accra, President of the Institute of Internal Auditors, Daniel Quampah said the COVID-19 pandemic brought about some swift changes leaving behind moribund organizations, hence the need for Internal Auditors to stay resilient in this environment.

Mr. Quampah said “the velocity of change has increased. The known traditional ways of doing things are fast becoming outdated if they aren’t already. Some of the changes happen so swiftly that they leave in their wake, moribund organizations. The only way to stay resilient in this environment is to anticipate the changes and brace our organizations ahead of time. Waiting to change within the change looks more like a sure route to the exit.

Consequently, we have lined up very relevant topical subjects reflective of the theme for this year’s conference for you and I trust that you will find the conference a fulfilling experience.”

Mr. Quampah said Auditors must leverage technology and be innovative in executing their work without compromising on standards.

“An attestation to the speed of change is the fact that a few years back, the internet was just a luxury only some privileged few could afford. There was little consideration given to the thought of a virtual conference. In-person conferences were the only options through which people could enhance and share knowledge, ideas, and opinions on a common platform. This years’ conference holds special significance because this is the first conference in the history of our institute where the entire conference is taking place via a digital platform. I am thus grateful to our team and supporting vendors that have put the event together.” He intimated.

Chief Internal Auditor at the Bank of Ghana, Stephen Amoh said with the adoption of technology, internal Auditors can conduct more complex and real-time analysis and anticipate emerging risk by providing precise insight.

“Some notable initiatives adapted by organizations to mitigate the effect of the Pandemic on their operations include remote working which gives staff access to call applications through a Virtual Private Network (VPN), running off shift systems for staff, digitalization of business processes and teleconferencing. Again, reliable business continuity management systems which were hitherto and afterthought, have now become an integral part of business operations.” He added.

“Mr. Amoh said the time is apt for internal auditors to be innovative and leverage on the expertise of other professionals in their line of work. “

“The question that needs to be answered, how can internal Auditors be innovative and executing their core mandate without compromising on the standards set in the International Professional Practice Framework (IPPF)? To aptly do this would require leveraging on the expertise of other professionals and building capacity in modern Business and technological trends and the use of date analytics software, computer-assisted audit tool, and advanced risk assessment technics.

The theme for this year’s conference was “Explore and Innovate in a Disruptive Environment”. The IIA Ghana’s annual national conference had 400 participants from across the world.

Story by: Mabel Adorkor Annang

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