– Minister Singh tells audit seminar participants
MINISTER of Finance Dr. Ashni Singh said internal auditing is an important element of corporate governance and noted that achieving competitiveness is not a function of the State only but of the private sector, whose responsibility it is to ensure that they are efficiently managed. He was speaking at the opening ceremony of the Institute of Internal Auditors (Guyana Chapter)  two-day workshop on audit report writing and interviewing techniques yesterday at the Regency Suites Hotel in Georgetown.
“There must be a stronger appreciation for the importance of audit functions. Strong systems and good management are not only needed of the Government but also of private companies,” said the Minister of Finance.
“We must be as competitive as possible. You know of the impact you can make on the efficiency of your company’s operations,” he said. “It is not only good enough to lament that Government needs to do more. [These companies] must ask themselves whether they are managing their affairs efficiently,” he posited.
According to President of the IIA Guyana Chapter, Mr.  John Seeram, persuasive communication, one of the focuses of the seminar, is an essential skill for auditors at all levels and high-quality audit reports are a key communication tool.
“By participating in this workshop, auditors in all sectors learn what goes into effective audit observation and how to organise reports that meet professional standards, elicit management action and communicate crucial messages to executives and board-level readers,” said Seeram.
He said, also, that by honing these skills, auditors could distinguish themselves in their current positions and prepare themselves for advancement.
Seeram said that with regard to interviewing techniques, questioning is one of the most significant audit procedures, and is “perhaps the most pervasive tool that can yield a wealth of information to be used by different purposes for maximum audit results.
“What questions should be asked depends on the nature, scope, and objectives of the audit. For example, during a fraud investigation, more tailored questions are used to prove the occurrence of fraud and the guilt of the alleged fraudster. On the contrary, open-ended questions are used more often in operational auditing,” Seeram said.
Larry Kowlessar of the Trinidad and Tobago Chapter of the IIA is facilitating the training.