Minister of Finance Dr Ashni Singh says that the internal audit profession is key to maintaining accountability and boosting the country’s national competitiveness.
According to a Govern-ment Information Agency (GINA) press release Singh made these comments in his feature address at a workshop aimed at resuscitating the Guyana chapter of the Institute of Internal Auditors (IIA). Singh was said to be heartened by the large turnout particularly by senior functionaries of the University of Guyana: Pro-Chancellor Prem Misir and Vice Chan-cellor, Professor Lawrence Carrington, and the private and public sectors.
GINA said Singh viewed their attendance as recognition of the importance that the internal audit function plays in the corporate world. He said though many may view the post “as a minor bureaucratic function” in a world economy that has been rocked by the recent and still unwinding global financial crisis, the internal audit takes on an even greater role. Its use points to sound management and will lead to competitiveness.
The minister also told the audience that issues of accountability, transparency, good governance and value for money, which are all goals of the internal audit profession, should not only be restricted to the public sector. He encouraged the private sector to embrace the gains that can be obtained from the use of good risk management and assessment techniques. Singh said he was pleased that the workshop was organized as it is one of the many ways to pursue human resource development which is needed in Guyana.
The workshop, chaired by Banks DIH Limited Execu-tive Ramesh Dookhoo, is seeking to upgrade the skills of internal audit professionals in both the private and public sector. Dookhoo said it was “the largest gathering of internal auditors in Guyana’s recent history.” The opening session was addressed by John Seeram, President of the IIA Guyana chapter, Claire Gomez-Miller, IIA District Advisor, Caribbean Region and Lal Balkaran, founder of the IIA Guyana chapter and one of the workshop facilitators.
Seeram emphasized the importance of internal auditing in the areas of governance, risk management and internal controls and Gomez-Miller told participants that they were the gatekeepers of good corporate governance.
GINA said Minister of Housing and Water Irfaan Ali, Chairman of the Private Sector Commission, Captain Gerry Gouveia, Governor at the Bank of Guyana Lawrence Williams also attended the workshop. Other senior officers from both the public and private sectors also attended the function.
