BusinessDay

Why ICT is must for Lagos auditors, says Muri-Okunola

To remain relevant in the 21-century economy, auditors in Lagos public service must adapt to information communication technology (ICT) and its application to auditing functions, Hakeem Muri-Okunola, the state head of service, has said.

Muri-Okunola made the submission at the 2022 annual retreat for Lagos auditors, organised by the office of Lagos State auditor-general, with the theme “ICT and auditing as inseparable twins towards ensuring accountability and probity.” The theme was selected to highlight the imperative of integrating technology into the functions of auditors, for greater transparency and efficiency.

According to the head of the service, the evolution of the digital economy at the global level has significantly changed the way business enterprises operate. It has also brought about the generation and display of financial data online in real-time and overwhelming rapid adoption and implementation of e-business technology.

This, he believed, has led to new challenges for auditors, especially in the area of effective control. To catch up with this trend and remain relevant, auditors must fully embrace and adopt relevant technological tools to attain accuracy and efficiency in their service delivery.

“ICT tools and techniques directly impact the audit function in diverse ways, some of which are performance, reporting and decision making, monitoring scope and quality of output as well as in the area of audit phase.

“As professionals, the people and stakeholders rely on you for a transparent system. It is, therefore, necessary that you work in compliance with our legal and regulatory frameworks and requirements in order to garner public trust.

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It is also important that you continually take advantage of forums like this capacity-building retreat to develop yourselves,” said Muri-Okunola, who was represented at the retreat by Hundogan Temitope, the permanent secretary, the state ministry of finance.

Salami Sikiru, the Lagos State auditor-general, in his welcome address, said the theme of the retreat was in line with the fourth pillar of the THEMES agenda of Governor Babajide Sanwo-Olu’s administration.

According to Sikiru, in a bid to make Lagos a 21-century economy, the state government has continued to build the capacity of auditors through training so as to raise competent professionals towards realising a transparent and accountable system.

The auditor-general also informed that over the last one year, his office has fully digitalised the state’s auditing processes, competerised the state’s financial statements, acquired active data and ICT software as well as expanded the auditing scope of the state.

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