See banks chief audit executives message to auditors

• Auditors have been tasked with the importance of ethics and professionalism while carrying out their assignments
• There are also plans by senior auditors in Nigeria to provide a platform for young auditors to learn the right way
• An auditor is an independent professional who examines and verifies the accuracy of a company's financial records and reports

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has issued a rallying call for auditors to prioritise ethics and professionalism.

This call was made at the association's 58th quarterly general meeting, with the theme “being a human auditor in a challenging environment"

Auditors asked to be professionals Photo credit: ACAEBIN
Source: Facebook

In his keynote address, Dalu Ajene, chief executive Officer (CEO) of Standard Chartered Bank Nigeria Limited, highlighted the critical role of auditors in upholding professionalism and ethical standards

Ajene emphasised that auditors play a pivotal role in ensuring the robustness, transparency, and trustworthiness of institutions.

Addressing the audience, Ajene acknowledged the challenges facing the industry, including economic volatility, regulatory changes, technological advancements, and evolving customer expectations.

He stressed the need for auditors to navigate these complexities with precision, professionalism, empathy, and ethical fortitude.

Ajene stated:

He said:

"The role of an auditor has always been complex, and it demands even more from you in this era. "It requires not only technical proficiency and an unwavering commitment to ethical standards but also the ability to navigate the human aspects of your work."

The CEO noted that being an auditor requires not only technical proficiency and a commitment to ethical standards but also the ability to understand the human aspects of the work.

He reminded the audience that behind every transaction and compliance check are people whose lives and livelihoods depend on their diligence, transparency, accountability, and integrity.

He emphasised:

"You must understand that behind every transaction, every financial statement, and every compliance check, there are people—people whose lives and livelihoods depend on your diligence, transparency, accountability, and integrity. "In doing so, you safeguard not only the assets of your banks but also the trust placed in us by our stakeholders, customers, and the broader community"

Ajene highlighted the importance of empathy and ethical responsibility in auditing, noting that auditors are auditing for humans.

He added that there is a need for auditors to recognise and address the pressures and challenges faced by colleagues, clients, and stakeholders.

Building trust, he argued, requires fostering an environment of open communication, mutual respect, and professional integrity.

Auditors renewed focus on ethics, professionalism

In his welcome address, Prince Akamadu, the chairman of ACAEBIN, also reechoed professionalism in building confidence and trust.

According to him, the role of a chief audit executive has become more demanding than ever.

His words:

"The role of a chief audit executive has become more demanding than ever, especially as the country continues to grapple with solutions to her socio-economic challenges. "We are tasked not only with ensuring compliance and mitigating risks but also with adapting to rapidly changing technologies, changing regulatory policies, and global economic conditions. "Our environment is indeed challenging, but it is these very challenges that drive us to innovate, grow, and excel."

Akamadu raised concerns about artificial intelligence and the skill set that will continue to make auditors most valuable for a stable financial sector.

He added:

"Today's meeting is an opportunity for us to reflect on these challenges and explore how we can continue to be effective auditors while maintaining our humanity. "Being a human auditor means balancing the rigors of our profession with empathy, ethical judgment, and a commitment to the greater good. It involves understanding the broader impact of our work on people, organizations, and society."

CBN investigator probes bank CEOs

Legit.ng earlier reported that Bank CEOs and top officials of banks in Nigeria may be investigated during the ongoing investigation into the affairs of Emefiele.

The report shows that CEOs would be invited to ascertain any abnormalities around commercial banks' handling of intervention funds.

According to the report, the apex bank may be asked to withdraw its recently published financial statements.

Source: Legit.ng