The Kaduna State Government in partnership with PricewaterhouseCoopers (PwC), a multinational professional services network, has begun a three-day training for 180 audit officers in the state on Risk-Based Internal Audit (RBIA).
Associate Director, PwC, Yetunde Oladiji, explained in Kaduna on Monday, that the training was in line with the Kaduna State Government drive for improved governance.
Oladiji told the News Agency of Nigeria (NAN) on the sidelines of the event, that the goal was to improve the capacity of audit officers on modern ways of performing internal audit.
She described RBIA as a methodology that links internal auditing to an organisation’s overall risk management framework, which provide assurance that risk management processes were in place to manage risk effectively.
“The Kaduna State Government, in conjunction with the World Bank, is currently making efforts to improve governance in the state and part of the key element of governance is internal audit.
“This is because managing risks has been recognised as an essential part of good corporate governance practice.
“It helps in identifying all the business risks a government or organisation face and provide solution to how such risk could be managed.
“This will play a central and essential role in maintaining a sound system of internal control,” she said.
She noted that while the responsibility for identifying and managing risks belongs to management, one of the key roles of internal audit was to provide assurance that the risks have been properly managed.
One of the participants, Mr. Nuhu Aliyu, Director Final Account, Ministry of Finance, told NAN that the training would make them proactive in managing risks in governance.
“It will enable us identify various risks in relation to our work processes and how to prevent, mitigate or manage them,” he said.