NIC Hosts Re­gional In­ter­nal Au­di­tors So­cial Se­cu­rity Work­shop

The Star (St. Lucia) - - LOCAL -

Twenty eight in­ter­nal au­di­tors, ac­coun­tants and other so­cial se­cu­rity pro­fes­sion­als from 11 coun­tries met in Saint Lu­cia this week to en­hance their skills and learn more about in­ter­na­tional best prac­tice in in­ter­nal au­dit­ing.

The Oc­to­ber 23 to 24, 2014 Re­gional In­ter­nal Au­di­tors’ So­cial Se­cu­rity Work­shop was hosted by the Na­tional In­surance Cor­po­ra­tion (NIC) and held at the Bay Gar­dens Ho­tel.

The NIC’s Head of Group In­ter­nal Au­dit, Sue-Ann Charlery-Payne says this work­shop is in keep­ing with the need to strengthen au­dit­ing sys­tems, as the heads of re­gional so­cial se­cu­rity bod­ies iden­ti­fied in­ter­nal au­dit­ing as a key pri­or­ity area for on­go­ing train­ing.

“The in­ter­nal au­dit func­tion serves to as­sist the board in over­sight and this is crit­i­cal. It spans risk man­age­ment, eval­u­at­ing con­trols, and is an as­sur­ance-based func­tion which is im­por­tant to the ef­fi­cient run­ning of the es­tab­lish­ments. En­sur­ing that the per­sons who are en­trusted with the re­spon­si­bil­ity of car­ry­ing out that func­tion are pro­fi­cient enough, makes this train­ing im­por­tant,” she said.

The two-day train­ing in­cluded pre­sen­ta­tions and lec­tures, role play, case stud­ies and group work. The pre­sen­ta­tion by An­drea Gail­lardSt. Rose, one of two train­ing fa­cil­i­ta­tors fo­cused on the chang­ing role of the in­ter­nal au­dit func­tion.

Mrs. St. Rose says that while many in­ter­nal au­di­tors are con­cen­trat­ing on tra­di­tional job re­quire­ments such as au­dit­ing fi­nan­cial state­ments, the fo­cus of in­ter­nal au­dit­ing is rapidly evolv­ing into other ar­eas and au­di­tors must be pre­pared to meet the chal­lenges head on.

“In pre­vi­ous times the in­ter­nal au­di­tors were seen as peo­ple who came in to do tick­ing and check­ing, to en­sure that things are func­tion­ing. In to­day’s ses­sion, I will com­mu­ni­cate to them the fact that the in­ter­nal au­di­tors now have to be a lot more strate­gic. They have to be placed in a po­si­tion where they can an­tic­i­pate changes tak­ing place in the lo­cal and global en­vi­ron­ment and as­sist man­age­ment in putting the con­trols in place to min­i­mize the risk of losses for the or­ga­ni­za­tion and in so do­ing, pro­tect con­trib­u­tors’ funds,” she said.

Work­shop par­tic­i­pants in­cluded au­di­tors, fi­nan­cial con­trollers, of­fi­cers from com­pli­ance de­part­ments, in­vest­ment man­agers and so­cial se­cu­rity direc­tors.

NIC of­fi­cials are con­fi­dent that fol­low­ing this re­gional train­ing, in­ter­nal au­di­tors will be bet­ter equipped to meet the chal­lenges of their in­creas­ingly com­plex work en­vi­ron­ment.

At­ten­dees at the Re­gional In­ter­nal Au­di­tors’ So­cial

Se­cu­rity Work­shop.

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