ACAEBIN trains auditors in internal control

The Association of Chief Audit Executives of Banks in Nigeria, in collaboration with the Financial Institutions Training Centre, has recently organised a two-day training for internal audit staff on internal control in financial reporting.

The training, which was held in Lagos, was aimed at ensuring continuous upskilling and capacity development of the internal audit function and had in attendance 70 Internal Auditors, drawn from 41 member banks.

While declaring open the training session, the Chairman of the association, Prince Akamadu, stated that the association was committed to training and raising a generation of internal auditors who could meet the challenges of the audit profession.

The second Vice Chairman of ACAEBIN and the Sub-Committee Chairman on Emerging Issues, Mogbitse Atsagbede, whose team was responsible for organising the training, noted that capacity development is at the core of the association’s mandate,

He explained that such training is typically funded by the association at no cost to the banks.

 Mogbitse urged the participants to take the training seriously and make the best use of the opportunity.

In her remarks at the end of the two-day event, the first Vice Chairman of the association, Aina Amah, urged the participants to endeavour to organise in-house sessions in their respective banks to share the knowledge they acquired with their colleagues.

During the training, participants were equipped with the knowledge and competence to assess the effectiveness of internal controls, risk-based internal audits, regulatory requirements of the committee of sponsoring organisations framework, etc.

Participants were urged to integrate such knowledge and experience into working collaboratively with others to ensure that their organisations provide accurate financial reporting.

ACAEBIN is a not-for-profit sub-committee of the bankers’ committee, committed to sustaining high ethical values and promoting the competence and professional behaviour of members. It also fosters interbank cooperation and collaboration with law enforcement agencies and other stakeholders in the banking industry in the fight against banking fraud.