…Dr. Singh tells internal auditors
Minister of Finance Dr. Ashni Singh said that transparency and accountability are concepts that should not only be attached to the public sector and government, but also to private companies and individuals, especially for those companies that borrow money from the banking system.
The minister was speaking Thursday at the opening of a two-day seminar that the Guyana Chapter of the Institute of Internal Auditors hosted at the Tower Hotel. The theme of the seminar was ‘Procurement and Contract Audit’ and the three main presenters for the two days were John Seeram, Deodat Indar and Lucas Delgado.
“It applies equally to the private sector as it does to government,” he said, speaking of transparency and accountability. Internal auditors, he said, have a role to play in ensuring that this happens.
Speaking of the many changes the government has made with regard to enhancing openness, the minister said that Guyana is one of the few countries in the world where the media are invited to cover the opening of tenders for the procurement of goods and services.
He spoke also of the fact that the Auditor General is now mandated to present his report to the Speaker of the National Assembly instead of the Minister of Finance, giving the Parliament oversight of the Audit Office.
According to the minister, the 2001 Constitutional amendments were far reaching as they relate to public accountability and transparency, and were responsible for the establishment of sectoral committees in the Parliament. He said that ministers and other stakeholders are summoned before these committees to give an account of their stewardship for particular sectors, whether it be the sugar industry or the National Insurance Scheme (NIS).
The minister said it is to the credit of the leadership of IIA Guyana Chapter that it gained recognition from the IIA in the early days of the organisation. He said that the subject matter of the seminar was appropriate in ensuring that there are strong and robust systems for ensuring proper execution and fulfilment of contractual obligations.
Addressing the workshop, John Seeram, a board member of the IIA Guyana Chapter, said that over the past three years, the body has held nine training seminars on various topics. He said for 2011, the body had seminars in April and July, in addition to the latest one. He told the gathering of internal auditors that the knowledge gained will enhance their development and strengthen the profession of internal auditing in Guyana.
He observed that participants numbered close to 100 persons from 35 different organisations. He told them that the training will not only benefit them, but also their organisation. He said that the IIA Guyana Chapter is working towards having a sizeable cohort of trained internal auditors by the end of 2012.
Seeram urged the participants to implore their employers to make more money available in their annual budgets for training of the audit staff, since those companies will be the ones to benefit in the long term.