Internal auditors challenged to embrace strategic advisor role

Internal auditors have been challenged to take up strategic advisor role in the respective organisations that they serve.

Institute of Internal Auditors Kenya (IAK) board of governors chairperson Lilian Mwangi said the new global standards require that internal auditors evolve to strategic advisors instead of only ensuring compliance in the firms they work for.

“Internal auditors should now evolve into strategic advisors for the organisations they serve. This will add value to stakeholders,” she noted.

Ms Mwangi said this will enable organisations to avoid risks and become more viable in their business undertakings.

She was speaking during the 22nd annual seminar for internal auditors at the Sarova Whitesands beach resort, Mombasa, on Tuesday.

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The theme of the conference is, “Embrace change, elevate trust and influence progress.”

Turkana Governor Jeremiah Lomorukai said internal auditors should enhance efficiency and ensure resources are put to good use in the organisation they serve including the county governments.

Lomorukai challenged the auditors to manage risks and resources well to minimise wastage.

“Internal auditors ensure the management of risks and resources to avoid wastage. As a county government, we want to ensure internal auditors are independent,” he said.
He called on the internal auditors to embrace technology and adapt artificial intelligence to enhance their work.

Mwangi said the internal auditors are expected to embrace technology, including artificial intelligence and communicate effectively with stakeholders.

“We should embrace competency and leverage technology and effective communication to our stakeholders. We should have the synergy to drive value to our stakeholders,” she said.

She said that the future internal auditors should understand what is going on in the businesses and offer advice that adds value.

Mwangi urged internal auditors to change their mindset, give real-time assurances and guidance to their firms.

“The internal auditor of the future should give insightful and personalised guidance to the organisations they serve,” she said.