Internal auditors tackle fraud issues
MBABANE – As the Internal Audit Awareness month has come to an end, the work done by these professionals continues, with emphasis on tackling fraud-related issues.
The month of May is dedicated towards raising awareness on this profession and some local internal auditors have shared their experiences on how they commemorated the work they do.
Through the Institute of Internal Auditors (IIA) Eswatini, some of the professionals mentioned that they wanted to extend the awareness into the month of June with the key focus being fraud awareness.
Mboniseni Simelane, Royal Eswatini
Sugar (RES) Corporation “Internal Audit Awareness month is a time where we showcase what the Internal Audit profession is about. We also raise awareness about the value internal auditors bring to organisations through evaluation of internal controls and risk management processes. We are also planning to extend the awareness in our organisation into June, by conducting fraud awareness sessions, among others.
Internal Audit is an interesting career, because you get to understand business processes in any industry. You are also able to review inherent risks and evaluate internal controls put in place by the business to mitigate. It is a profession where learning never stops, and one gets to appreciate the value-add through implemented improvements to business processes as recommended by internal audit.
We take pride in being advisers to management on risk management and internal controls evaluation, thus assisting the business accomplish its objectives. Internal auditors also bring insight to the business, which we should constantly improve, to look ahead by keeping up with worldwide changes and evaluate how agile our organisations adapt to these. The profession is guided by principles of integrity, confidentiality, objectivity and competency, which we are proud to demonstrate as internal audit professionals.
The general perception of the internal audit function is to first think that internal auditors are there to be the organisation’s ‘police’. Our organisation is no different.”
Nontsikelelo Dludlu,
Central Bank of Eswatini (CBE) “Internal Audit Awareness Month means marketing of the Internal Audit function within our organisations.
To commemorate the month, I have committed to re-register for my Part three exams by taking advantage of the discount offered by IIA in May
“Also, I have taken some time to remind myself of internal auditing basics by revisiting the IPPF.
I had always thought that
I would choose a career in Management Accounting.
However, when I joined my current employer, I developed an interest in internal auditing. I did my research and was fascinated by how organised, well-structured and adequately resourced - in terms of guidance materials - the Internal Audit profession was. Also, I read about the road to certification and felt it was manageable (I hold a different view now). That is how I chose the career.
I am very proud of the internal auditing profession because it encourages ethical behaviour and integrity. Once these traits are encouraged at a professional level, they have a way of being instilled in one’s behaviour and applied in all other areas.
In my organisation, we are perceived as independent assurance providers who do not believe in a word of mouth. Word around the corridors is that if there is no evidence that it occurred, then according to internal auditors, it never did.
Even though I may not be totally sure, but from a few conversations I have had with colleagues, I gathered that the presence of internal auditors is felt. As business establishes its processes and are carried out, they are mindful that Internal Audit may at any time review whatever work has been done. We have made it a point that we unpack who we are and what we are about during all our entry meetings.
Mandla Shabalala, Swaziland
Building Society (SBS) “Internal Audit Awareness month is a time when the IIA gets a chance to promote the profession of internal auditing. It is also a chance to clear all myths about the profession.
My employer supports the internal audit function and the awareness month. Every year we have a programme aligned to the IIA awareness guidelines by allowing Internal Audit to do roadshows to all business units creating awareness about the profession.
I tried other professions before I settled for internal auditing as a career. After completing university I just wanted a job and to have my own money.
I started off in a small accounting firm and after a year I realised that this was not what I wanted to do for the rest of my life. I then quitted employment with Government in the Income Tax Department.
Thereafter, I landed in the Internal Audit department. Government sent me on a one-month training course to Lesotho (IDM) and at the end of the training we wrote an exam and I topped the class.
The lecturer told me that I should consider a career in internal auditing because the exam he gave us was from the Institute of Internal Auditors CIA (Certified Internal Auditor) exam. That’s when the seed was planted and I have been enjoying internal auditing in different organisations ever since.
As an internal auditor you get to see the organisation from end-to-end and play a big role in ensuring that the organisation is addressing the risks left unattended, will affect the achievement of the organisation’s strategic goals.
RICHARD MADUNA,
Central Bank of Eswatini (CBE) “Internal Audit Awareness month is a period to market the internal auditing profession. We provide information about the profession and the internal audit function.
In commemoration of the month, our Quality Assurance Unit holds briefing meetings with our clients.
By taking internal audit as a career, I grabbed an opportunity that settled me into this profession. I then started to enjoy the exposure and continued. Otherwise, my interest was in Financial Accounting.
I am proud of my profession because it provides an opportunity to learn new things. In our organsation, there are regulatory functions, engineering, economic analysis, core business and diverse support function.
It is a pleasure and fulfilling to debate on issues on the different disciplines. I learn from them and they learn from me.
In my organisation, Internal Audit is almost perceived as a partner in business effectiveness and an enabler of business efficiency.
Portia Dumsile Mamba “Internal Audit Awareness month means speaking more to every client of Eswatini public service about the role played by internal auditing. I am a member of the Finance & Audit Committee in one of the country’s public enterprises. I have explained the importance of internal auditing in our organisation. I have also explained the committee’s role in enhancing independence and effectiveness of internal auditing.
“We commemorated the month by continuous talks with long serving internal auditors at work. We have even spoken about the profession during a Finance & Audit Committee meeting on 20 May 2022. I took internal auditing as a career because of its career advancement opportunities. As an internal auditor with vast knowledge of business processes, career advancement opportunities are up to the position of chief executive officer.
“I am proud of my profession because I report to the highest authority in the organisation and advise management.
“Perception of internal audit varies in organisations. Where it is appreciated, internal auditors are trusted advisors”.