Chief Audit Executive, First Bank of Nigeria Limited, Uduak Udoh, has joined chief audit executives and internal audit practitioners and professional across Africa to discuss risk management efficiency.
Mr Udoh who is also Chairman/President of Institute of Internal Auditors (IIA) Nigeria, was present at the 6th Annual Conference of the African Federation of Institutes of Internal Auditors (AFIIA) organised in Gaborone, Botswana.
The event was held from May 27 to 31, 2019 at Gaborone International Convention Centre.
The conference was convened to promote and reinforce the role of internal audit as a fundamentally proactive field, through its assurance and advisory roles with a view to helping management intervene before risks materialise.
Udoh said: “In today’s global age, fast driven by the momentous technological advancement, internal auditors while providing compliance-related assurance over cyber risks, should also apply new mind-sets and methods – aided by technological approaches – to audit cyber risks.
“Internal audit should develop sound understanding of upcoming events e.g. block chain, dynamic hedging, instant payment processing etc, and the position of regulators, in order to assist their organisations’ readiness.”
CEO/President, Institute of Internal Auditors (IIA) Global, Richard Chambers said “the value of internal audit is not in looking in the past, but rather the value in internal audit is looking into the future.”
The event had 600 participants from across Africa and the world; notably President of the Institute of Internal Auditors Botswana (IIAB), Margretmary Mushango; President, Africa Federation of Institutes of Internal Auditors, Eric Yankah; Femi Osinubi and Kikelomo Asuelime, both board members of IIA Nigeria; CEO, IIA Nigeria, Humphrey Okorie, amongst others.New