|
|
|
|
| Business |
| Chikaonda asks auditors to be more professional |
|
by
Rankin Nyekanyeka, 25 October 2004
-
17:14:10
|
Press Corporation chief executive Matthews Chikaonda has asked internal auditors to be more vigilant against irregularities in their firms than they are now if the image of their profession is to improve.
Chikaonda was speaking at this year’s lakeshore conference for the Malawi chapter of the Institute of Internal Auditors at Club Makokola in Mangochi held on Friday and Saturday.
He noted that there are so many reports in the media about scandals like fraud and other malpractices in various organisations, which could have been avoided if the internal auditors were more active than they are.
“The biggest question that comes to mind is where was the internal auditor when all this was happening? If these acts can be prevented, the better,” he said.
The challenge auditing now has, he advised, is to go beyond corporate governance citizenship which has a holistic approach.
Chikaonda, who was guest of honour at the conference noted that although Malawi has made governance a key issue for development, practically, there is a lot yet to be done.
Earlier, the Institute’s president Daniel Mbozi said this year’s conference was unique because it came just a few month’s after change in political leadership.
“The new administration has so far raised people’s hopes for a better and prosperous Malawi through good governance and transparency,” he said.
He also announced that examination fees for Certified Internal Auditors examination for Malawi has been reduced this and next year to “enable the chapter to enhance professionalism among its members”.
So far Malawi, like Lesotho, Ghana, Ethiopia and Mauritius , has only one Certified Internal Auditor, Anthony Mukumbwa.
Zambia has two, Botswana 10, Zimbabwe 27, Namibia 13, Kenya and Nigeria have eight each and South Africa 496 as of May this year.
At its annual general meeting on Friday evening, the Institute re-elected Mbozi, who is head of Internal Audit at Stanbic, its president.
Bruce Ndhlovu of Press Corporation, who was treasurer is now vice President of the board, Shadreck Namalomba of Illovo is treasurer while George Chikuse of Air Malawi has been retained as secretary.
Lewis Minjale of Illovo and Correta Kampani of the Reserve Bank of Malawi have also been retained board members. New comers in the board are William Katunga of World Vision, Davie Chiphwanya of Banja la Mtsogolo, Sosten Libamba of Malawi Revenue Authority, Hassan of the Office of the President and Cabinet, Smith Masuso of the University of Malawi, Jones Chakhoma of KPMG and Norton Lewanika of Limbe Leaf.
The Institute started in 1999 with about 30 members. Last year it had 104 and now it has 140.
The Malawi chapter is an affiliate of Institute of Internal Auditors, which was represented at the conference by Judy Burke, who is also vice president of the United States based Resource for Global Governance |
| |
|
|
|
|
|
