• Friday, July 19, 2024
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ACAEBIN, Standard Chartered empowers internal auditors on risk management

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The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) and Standard Chartered Bank, an international cross-border bank, have partnered to empower internal auditors to effectively handle and manage emerging risks in the Nigerian banking sector.

The empowerment was held during the 58th quarterly general meeting of ACAEBIN in Lagos themed: “Being a human auditor in a challenging environment.”

Prince Akamadu, chairman of the association said the event was an opportunity to reflect on the challenges auditors face and explore how to become effective auditors while maintaining humanity.

“The theme reflects the dynamic and complex landscape we navigate as audit professionals. Being a human auditor means balancing the rigors of our profession with empathy, ethical judgment, and commitment to the greater good that affects everyone,” he said.

Dalu Ajene, chief executive officer of Standard Chartered Bank, who was the keynote speaker and chief host of the event said ACAEBIN is a testament to the company’s shared commitment to enhancing the standards and practices within the banking sector of Nigeria.

“Being a human auditor means embracing the essence of empathy and ethical responsibility. It involves recognising the pressures and challenges faced by colleagues, clients, and stakeholders and fostering an environment where open communication, mutual respect, and professional integrity are powered,” he said.

He added that auditors must acknowledge the challenges that come with the profession because it enables them to build resilient teams, foster trust, and create systems that adjust complaints but are also adaptable and forward-looking.

“The empathy auditors bring into the role drive more effective communication, enhance collaboration and ultimately lead to more innovative solutions to the problems we face in the industry,” he said.

Saheed Bashiru, director of internal audit practice at PwC highlighted how auditors can identify and respond to emerging risks in a challenging environment.

“As auditors, the leading practices for identifying emerging risks are building emerging risk awareness, documentation of each process, responding, monitoring, and reporting risks in a challenging environment,” he said.