ACAEBIN to improve quality of internal audit practice

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The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has stressed its commitment to improving the quality of internal audit reports that will surpass the expectations of stakeholders.

At the association’s two-day training on ‘Internal Audit staff on Report Writing and Effective Communication Skills’ held in conjunction with Platinum Edge Consulting, the Chairman of the association, Prince Akamadu, said the body is committed to improving the quality of internal audit to meet global pinnacle.

He said: “One of the Association’s core objectives is to develop the capacity of the Internal Audit Function to meet global standards and help auditors to deliver more effectively and efficiently. Over the years, ACAEBIN has been passionate about developing the skill set of Chief Audit Executives (CAEs) and Internal Auditors. This is one of the many ways the Association is adding value to the industry.”

He urged the trainees to make the best use of the opportunity provided by the exercise.

In a welcome address, the second vice chairman of ACAEBIN, Mogbitse Atsagbede, noted that capacity development is at the core of the Association’s mandate and that such training is usually bankrolled by the Association at no cost to the individual member banks.

“We are committed to promoting competence and professionalism in the industry. Our training and capacity development programmes are usually free and we do not compromise on quality. We have committed to organising at least two training sessions for Internal Auditors and one for the CAEs (its members) every year,” Mogbitse said.

Recall that the Association recently held a one-week training for its members on the Imperatives of CAEs in the Digital Age in Kigali, Rwanda in partnership with Ernst and Young Nigeria.

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) is a not-for-profit sub-committee of the Bankers’ Committee, committed to sustaining high ethical values, promoting competence and professional behaviour of members.

It also fosters interbank cooperation and collaborates with the Law Enforcement Agencies in the fight against banking fraud.

The training which was held on October 18th and 19th 2023 in Lagos was in conjunction with Platinum Edge Consulting, a renowned training and consultancy firm.

The event hosted over 60 Internal Auditors, drawn across 42-member banks including Development Financial Institutions in the country and was aimed at equipping the participants to gain perspectives on the different criteria for assessing internal audit performance, contributions of the internal audit reports, and communication style.

It also enabled the participants to leverage Internal Audit Management Software in reporting processes, generate internal draft audit reports for audit comments, produce final reports targeted at management, board audit committee and board meetings, track and manage audit incidents.

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