Victoria Mgbanwa
The MD/CEO of Coinmac International Limited, Mr Ayo Salam, is urging both private and public organizations to engage in auditing to prevent corruption.
He said proper auditing will ensure relevant laws and policies are followed in MDAs and government agencies.
Salam stated this in his welcome address, at the opening ceremony of the Training workshop organised by the National Hydro-electric power producing areas development commission ( N- HYPPADEC). on the theme “The developing, improving and Monitoring the internal Audit function”.
He noted that auditing for the public sector is aimed at the prevention of mistakes, shortcomings and misdeeds in public administration.
“The internal audit function provides independent and objective assurance to the board and management, such that the organization’s systems and processes are operating effectively, efficiently, and ethically.
“As the business world changes at an accelerating rate, auditors need to continually add to their skills and knowledge to stay relevant. They need to remain educated on changes in business in general and in audit processes”, he said.
The Managing Director of Coinmac commended the present management of the National Hydro Electric Power Producing Areas Development Commission ( N-HYPPADEC) for recognizing the importance of training and re-training for effective service delivery in taming corruption.
The Managing Director of the National Hydro-electric Power producing areas development commission (N-HYPPADEC), Abubakar Sadiq Yelwa disclosed that the audit section is critical to the development of the commission.
“The Unit is primarily responsible for inspecting the books of accounts to authenticate its accuracy and reliability.
N-HYPPADEC, as we all know, is a government agency with the potential of attracting donations from both domestic and foreign Development Partners.
“This makes the Commission highly dependent on the Internal Audit Unit to satisfy the Federal Government, through the cost-verifying investigations of external Auditors, with the workings of our various Directorates and the overall efficiency of our operations”, he said
