COINCIDING with the observance of Audit Awareness Month, which is celebrated in May, the Institute of Internal Auditors (IIA) – Guyana Chapter held a two-day workshop geared towards upgrading the skills of its stakeholders.

The event, which took the theme ‘In-depth Knowledge and Practical Skills’, was held on Wednesday at the Regency Hotel, and comes under the chapter’s Professional Development Programme.

Internal auditors, accountants, heads of department, executives and other stakeholders were engaged on topics such as best practices for internal auditing and analysis techniques.

Chair of the IIA Guyana Chapter Board, John Seeram addressed the gathering, stating that there is still a significant number of organisations which have not yet developed internal audit units or departments.

Noting that he came to the foregoing conclusion based upon his observations, Seeram said that some of the departments that have been established are not well trained; do not uphold the institute’s Code of Ethics; and lack effective communication and leadership skills.

“Having identified the major root causes, our Chapter has to focus on having outreach meetings with the management clients of both private and public sectors organisations,” he said, adding:

“Our Chapter members are well aware of the challenges to develop this internal audit profession in Guyana.
“Criticising is not the way forward; we have to be action-oriented if we are to develop this esteemed profession.”

Meanwhile, remarks came from the Chairperson of the two-day event, Chairman of the Professional Development Committee of the IIA, Fazal Bacchus who spoke to the relevance of internal auditing in Guyana.

He said that internal auditing helps to protect and enhance organisational values; safeguard the assets of businesses; assess the accuracy of financial information; and ensure compliance with laws and regulations among other things.

As such, he encouraged those at the seminar to safeguard their professional independence while maintaining their ethical standing in line with the IIA’s code of ethics.

“Internal Auditors must be pro-active in promoting the values of their organisations. I take this opportunity to urge our internal auditors to live above reproach and continue to be very professional in the performance of our functions,” Bacchus said.

The IIA Guyana Chapter commenced its Professional Development Programme in 2000, and, to date, has some 80 members, a figure which the body hopes to increase by 40 per cent over the next year.