• Friday, June 14, 2024
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Why tech, new skills critical to effective audit function – Lagos HOS

Hakeem Muri-Okunola

To remain relevant in the new world of work, auditors must learn skills of the future and embrace technology that aid the effective discharge of their functions, Hakeem Muri-Okunola, Lagos State Head of Service (HoS) has submitted.

Muri-Okunola spoke at the 12th Lagos annual auditors’ retreat with the theme “technological advancement and the future of auditor”, organised by the office of the state auditor-general, Thursday, in Lagos.

Auditors whether in the public or private sector are certified personnel charged with the review and verification of the accuracy of financial records with the aim of ensuring that organisations comply with the norms. They help to protect businesses/organisations from fraud by investigating and highlighting discrepancies in accounting methods.

To effectively carry out this role in a world that has become more techs savvy, Muri-Okunola believes auditors in the Lagos public service must learn and deploy smart technology.

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According to the HoS, while the role of auditors to develop detailed audit management framework, manage internal control of finance, pre and post-audit payment of vouchers, verify all procurement processes, in safeguarding government’s assets against theft and pilferage remains sacrosanct, it has become imperative that technology must be deployed now, more than ever before, in order to sustain and, even, surpass the prevailing standard of service delivery in the state.

“This retreat, therefore, provides you an excellent opportunity to re-appraise the present audit landscape and also proffer new ways of aligning your audit functions and responsibilities with the state government’s policy objectives, in the light of the new normal.

As such, I must note that the theme of this year’s retreat is apt as it effectively reflects a clear understanding that auditors, like other professional groups, must come to terms with emerging realities in the workplace occasioned by challenges of the COVID 19 global pandemic,” Muri-Okunola said

He believes the role of the auditors, if properly and efficiently discharged, should result in accountability, effective risk assessment and management, better internal control and ultimately lead to good governance.

Speaking at the event, Helen Morenike Deile, the outgoing auditor-general of the state, who unveiled her book ‘The Odyssey’ which chronicles the evolution and trends in auditing with particular reference to Lagos State, said advancement in technology has made it possible for auditors around the world to analyse large amounts of financial data and test 100 percent as against testing only a sample.

Against this backdrop, Deile said auditors in the Lagos State civil service must continuously embrace technology “as auditing is gradually metamorphosing beyond the traditional audit.”