The establishment and development of the...

Development and Growth

Over the past 20 years, the Guyana Chapter has been recognised by the IIA Global for its continuing development and contribution to the internal auditing profession locally. In this context, this profession has been benefiting from:

● Training Seminars and Workshops which are presented by well qualified and experienced Facilitators with a focus on current global best practices.

●

From 8A

library of an archived resources, covering topics such as audit fundamentals and soft skills technology.

Archived webinars will also be eligible for Continuing Professional Education Credits, which is a key annual requirement for holders and as well for other IIA Certifications.

Maintaining a membership over its second decade of approximately 60 to 80 members, and actively conducting membership recruitment. In year 2000, this Chapter had started with a membership of 15.

● Providing a Chapter Website and other technology resources to serve its members as determined

● Developing and providing the services as it deems most appropriate to serve internal audit professionals.

● by the IIA Global.

Ensuring that the International Professional Practices Framework (IPPF) is made available to all its members.

Marketing and increasing the demand for IIA’s Certification Programmes. Worthy of mention is that in 2005, Guyana had its first certification-Certified Internal Auditor (CIA), while in 2020 it now has 16 CIAs.

The strategic alignment of the activities of this Chapter since its existence with that of the IIA Global.

Promoting outreach programmes in both the private and public sectors on the current best practices of the internal auditing profession.

Allowing members holding executive positions to be given the opportunity to attend IIA’s overseas conferences with a view to sharing their knowledge obtained with Chapter members.

Hurdles

After 20 years of this Chapter’s existence, the role of the internal auditor has not been fully recognized despite the Chapter promoting its mandate from the IIA Global.

Evidence of this, and this is not a full list, includes that:

● Management in both the public and private sectors is yet to fully accept the important role the internal auditor plays in an organisation.

●

Contributors to the Chapter’s success

Contributors to the successful growth path of the Guyana Chapter are

●

The internal audit profession is not fully receiving the recognition it deserves from its stake holders.

The auditing emphasis is yet to fully focus on, among other things, governance, controls and risk management. Further, preference is still being given to appoint auditors with an accounting background, however such a unit needs to be also be staffed with non accountants in order to add value and improve the organisation’s operations.

There is still the view that the internal auditor and the external auditor is one and the same.

The internal auditor is not being allowed to perform and act independently at all times. As an example, the reporting function is to a senior line staff and not to an Audit Committee of the Board of Directors in order to preserve the auditor’s independence.

More funds should be provided in the training budget for internal auditors in both sectors since the audit scope has been constantly expanding. That budget should also provide adequate funding for ongoing research and development of this profession.

The Board of 10 Governors which became operational in year 2017.

The Executive Committee, which is headed by a President and supported by three to four members.

Ad Hoc Committees to support the Executive Committee.

Stakeholders in both the Private and Public Sectors who can be classified as partners with the Guyana Chapter.

With the exception of the stakeholders, the above mentioned contributors are Chapter volunteers, tasked with providing services in accordance with the IIA’s mandate.

Over the 20 years of the Guyana Chapter’s existence, the presidency has been held by myself, Deodat Indar, Jaigopaul Ram, Jaisree Lam, Devi Kaladeen, and, presently Mandie Mickel, who is also Chair of this Chapter’s Board. It should be mentioned that this Chapter’s leaders over the years have been/ are selected for their competence, professionalism and leadership qualities.

Recognition must also be given to the significant contributions made towards the early development of IIAGC. And they are Lal Balkaran of the Toronto, Canada Chapter, the late Barry Robinson of the Jamaica Chapter, Claire Gomez of the Trinidad & Tobago Chapter, and Kevin Mead, Field Services Manager, IIAG.

The goals that have been attained to date are the result of a team effort, involving the Board of Governors, the Executive Committee, its Members, and its Stakeholders.

The way forward

The Guyana Chapter is fully aware of the areas it needs to focus on. It is the hope that the internal audit profession will continue to receive the recognition it deserves from its stakeholders, and that the importance of the profession is understood and embraced by all. Today’s internal auditors must be seen as a partner, instead of a watchdog, assisting management to increase its organisation’s effectiveness as promoted by the IIA Global.

In 2020, IIAGC will continue to intensify its promotion of the profession in partnership with the global body. It has to encourage all internal auditors to follow the IPPF. This IPPF is reviewed and updated every year, which is excellent. One of the major challenges being faced is that internal audit is still not well-understood in some quarters, and one way to overcome this is for auditors to be guided by using the IPPF.

We in Guyana have to keep abreast with the developments of this profession and to focus on not only on risk-based auditing, but also on value-based auditing and performance improvement. Internal auditors need to keep advancing this profession within their respective organisations, so that they can be viewed as not only relevant, but also as an indispensable asset.

The IIAGC Guyana is committed to continue moving this profession forward. IIA Global is recognised for the sharing of knowledge and raising the level of the auditing profession worldwide over the past seven decades. This Chapter continues to follow the Global Institute’s motto, which is “Progress Through Sharing.”

And, finally, I close by stating that the members of the IIAGC take pride in our noble profession, and want to make a difference for the future. In so doing, this Chapter is forward-thinking, takes a stand for professionalism and competency, and is committed to elevating the practice of internal auditing in Guyana to the required quality assurance standards. The continuing development and growth of the internal auditing profession in Guyana is heavily dependent on this vital servicing unit, IIAGC, as well as partnering with its many stakeholders.