EKO NEWS

LASG To Leverage Technology For Improved Audit – Special Adviser

Published

2 years ago

Sep 12, 2022.

The Special Adviser to Lagos State Governor on Internal Audit, Mr. Abayomi Oluyomi, has promised that the administration of Governor Babajide Sanwo-Olu will continue to invest in technology as a control mechanism to improve the auditing profession and ultimately enhance good governance

EKO HOT BLOG reports that at the 15th Annual Retreat organised by the State Government for Auditors, Oluyomi said the forum was convened to enhance the skills of participants towards delivering optimal performance in their respective duties, adding that technology is changing the ways and processes of every aspect of governance, hence Auditors must be kept abreast of the rapidly evolving environment.

EDITOR’S PICK

He disclosed that the State Government is presently investing in Audit Transformation, which includes the structure of the audit system, training, identifying talents and improving the whole process for effective performance.

The Special Adviser said that the State Government has identified the need to improve the welfare packages available to the Auditors, assuring that a more robust welfare package would soon be implemented for audit personnel in the State Government.

Also speaking, the Chairman Audit Service Commission, Mrs. Oluwatoyin Adegbuji-Onikoyi, cautioned that despite the several solutions made available by technology, Auditors must be aware of the varied set of substantial risks such as data breaches, legal violations and compliance, among others, that come with technological advancements.

She said: “It is noteworthy that Governor Babajide Sanwo-Olu, through his administration’s T.H.E.M.E.S Agenda, has made it essential to embrace new technology and encourage innovation while ensuring that risks are identified and easily managed or controlled”.

Mrs. Adegbuji-Onikoyi reminded the Auditors of their main mandate, saying that the essence of auditing and risk management in governance is to curtail wasteful spending and ensure adequate utilisation of government funds in service delivery and making Lagos a 21st Century Economy.

Earlier, the Permanent Secretary of the Office, Mrs. Adetutu Ososanya, expressed hope that the retreat will assist in engendering efficient service delivery, noting that the approval for the annual event by the Governor, exemplified the present administration’s desire to ensure that Auditors are not detached from the rapidly changing dynamics of the auditing profession.

She informed that the State Government is interested in exposing Internal Auditors to how technology can assist them in promoting accuracy and reliability in accounting and operating data, as well as safeguarding government resources against waste, fraud and inefficiency.

Maintaining that the purpose of internal auditing is not to discover fraud as some people assume, Ososanya said it is to review and evaluate the activities of the organisation to express an opinion on the efficiency and effectiveness of management as well as adequacy of its internal control system.

One of the facilitators at the retreat and CEO, Nigeria & IT Audit Consultant, Mr. Humphrey Okorie, in his presentation on “Internal Audit Roles in the Delivery of T.H.E.M.E.S Agenda”, underscored the importance of a robust internal control system in a government establishment, stressing that the mechanism will help prevent wasteful and irrelevant spending and guarantee value for money.