ACAEBIN, FITC empower internal auditors on financial reporting

The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN), in collaboration with the Financial Institutions Training Centre (FITC), has concluded a two-day training for Internal Auditors on Internal Control Over Financial Reporting (ICFR).

The training, which was held recently, aimed to enhance the capacity of Internal Auditors to safeguard the integrity of financial statements.

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In a statement the organisers said, “The event brought together 70 Internal Auditors from 41 member-banks, providing them with in-depth knowledge of assessing internal controls, risk-based internal auditing, regulatory requirements, and the COSO framework. Participants were equipped to work collaboratively with other stakeholders to ensure accurate financial reporting.”

Prince Akamadu, ACAEBIN Chairman, emphasised the association’s commitment to developing a new generation of Internal Auditors capable of tackling the evolving challenges of the audit profession.

Akamadu noted that the theme of the training is very apt as such, the Association deemed it fit to ensure that Auditors have the requisite skillset to audit processes.

He also urged the participants to use the opportunity to network and form working groups where they share ideas and discuss issues that will enhance their work.

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Earlier in his welcome address, Mogbitse Atsagbede, 2nd Vice Chairman of ACAEBIN and Sub-Committee Chairman on Emerging Issues highlighted the association’s dedication to capacity development.

He underscored the fact that the training was sponsored by ACAEBIN at no cost to the banks and urged participants to maximize the opportunity.

Aina Amah, 1st Vice Chairman of ACAEBIN, urged participants to share their newly acquired knowledge with colleagues through in-house training sessions.

ACAEBIN, a non-profit sub-committee of the Bankers’ Committee, is committed to upholding ethical standards, promoting competence, and fostering cooperation among members. The association also collaborates with law enforcement agencies and other stakeholders to combat banking fraud.