Latest update March 29th, 2024 12:59 AM
May 17, 2017 News
By Kiana Wilburg
The benefits of internal auditors to an organization are many. But when there is a breakdown in communication between the auditors and the management team in a company, the effectiveness of reports from the former can be hindered.
With this perspective in mind, the Institute of Internal Auditors Guyana (IIAG) hosted an interactive session yesterday morning at the Regency Suites in Georgetown, which focused on how internal auditors can communicate effectively with an Audit Committee/ Senior Management using their audit report.
The guest speaker for this programme was Mr. John Seeram, a financial consultant and Governor of the IIAG Governor.
In his opening remarks, Seeram articulated that the IIA Guyana Chapter was established in April 2000. He said that it could be argued that more could have been done by now with the entity. Be that as it may, Seeram said that the Institute’s existence and work has been meeting the expectations of the IIA Global Chapter.
The financial consultant said that in developing the internal auditing profession in Guyana, the local chapter has to gain its recognition from stakeholders in the government, and in both the public and private sectors. He said that this can be achieved to a great extent, and is a major landmark for the local chapter.
Seeram who has 27 years of experience with the IIA Global, intimated to his listeners that for the profession of internal auditors to move forward, the IIA has to work in partnership with the public, including the government and the private entities. He said that this task is a continuous process and gradually, the Institute is achieving its goals.
The former University of Guyana lecturer said that the local chapter is now well recognized for the work it has been doing over the past 17 years. He said that an example of this is the large number of participants from approximately 30-plus organizations who have been attending the Institute’s seminars/workshops. He said that these would have been related to continuing professional development for auditors. Additionally, Seeram pointed out that there is a growing number of auditors pursing the IIA Certificate designations, one of these being the Certified Internal Auditor (CIA).
Delving into the details of his presentation, Seeram said it is crucial that communication between stakeholders and internal auditors, who are also referred to as Chief Audit Executive (CAE), is delivered in a way that is not only heard but also clearly understood.
“In effect, internal audit’s ability to communicate hinges on this relationship, even the best ways of messaging and insights can certainly fail to reach the intended audience or can fall on deaf ears. Internal auditors need to make every effort to get to know their clients. We cannot be content with merely sitting in our offices or board rooms with our audit peers,” Seeram explained.
The Consultant continued, “We must now venture into the business/operating areas and talk to those we are serving in the organization. We should take every opportunity to communicate not only on a formal basis but also informally, especially with key stakeholders, in order to learn about new and changing developments. Having breakfast, lunch, or even just a cup of coffee with senior personnel can be an excellent starting point for ensuring our audit voice is heard.”
The IIAG Governor added, “Effective communication not only requires us to be adept to sharing information. We must also listen carefully to what our clients say. We must listen ‘between the lines’ to hear the core message or messages…”
Seeram said that audit practitioners who possess the aforementioned skill will improve the quality of audit information gathering as well as enhance the audit function’s image as a reliable partner that recognizes the concerns and priorities of the organization.
The consultant also stated that communication of internal audit observations actually presents many opportunities, and should be one of the most thoughtful tasks an internal auditor performs.
In this regard he stated, “That isn’t to say that audit planning, scoping, and testing are not that important. However to achieve the greatest value from the work performed in those phases, the outcome needs to be communicated to the appropriate audience in a way that allows them to understand the results, appreciate the significance of the issue, and to take the appropriate action.”
THIS IDIOT TELLING GUYANA WE HAVE NO SAY IN THE 50% PROFIT SHARING AGREEMENT WE HAVE WITH EXXON.
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