–Dr. Singh says, commends Institute of Internal Auditors for its work

SENIOR Minister in the Office of the President with Responsibility for Finance and the Public Service, Dr. Ashni Singh on Thursday, while commending the Institute of Internal Auditors (IIA) Guyana Chapter Inc. for its work done thus far in Guyana, also urged that it considers the immeasurable value that the function can offer to organisations.

The minister was delivering the keynote address at the opening of the IIA’s two-day training seminar held at the Regency Suites under the theme, “Progress through Sharing’.

During his address to trainees and officials of the Institute, including President of the Institute Jaigopaul Ram and members of Guyana’s private sector, Dr. Singh pointed out that the internal audit function has an essential role to play as an internal aid to management in ensuring compliance with relevant laws, regulations, rules, internal policies, adherence to the observance of economically efficient and effective management.

The Senior Finance Minister then urged the entity to ensure that the Guyana chapter is a dynamic and active chapter that will hold ongoing and regular capacity building sessions, such as the training being done, and that they ensure the internal audit profession is given the recognition that it deserves.

“I want to assure you that in this government, we fully appreciate the value of the internal audit function and we have every intention of using it to ensuring that we maintain good, accountable and effective governance,” Dr. Singh posited.
“Guyana is at a time of unprecedented growth and expansion, that in turn reflects and creates opportunities for rapid growth in every organisation and company throughout Guyana,” he said, adding that this means more vast volumes of transactions and more being done at a faster rate.

He pointed out that in today’s era, it is essential that “we acquaint ourselves with international standards by which our respective professions are governed and avail ourselves of the internationally recognised certifications available in the professions in which we operate”.

Dr. Singh reminded that in today’s operating environment, Guyana is now more than at any other time in the country’s history, fully integrated in the global economy as he also reiterated the importance of obtaining international certification and acquaintance with international standards as well as compliance with those standards.

He further emphasized that Information and Communications Technology (ICT) is now a permanent fixture in the country’s landscape. As such, he urged that participants to recognise the remarkable opportunity that IT offers and to be better aware of the risks associated with IT based solutions while considering how they can use IT based tools and instruments to perform functions more effectively.

The Finance Minister said that the government recognises the tremendous value that can be added by a strong and effective audit function, and it why it is the intention of the President Ali-led government to further roll out the internal audit function across the whole of government to ensure comprehensive coverage and maximisation of the function.