Public Sector Internal Auditors Must Adopt Int’l Standards – Mcknight

Chairman of the Audit Practice Committee, Leighton McKnight, has said that internal auditors within the public sector must adopt international standards to remain competitive, including those of the Institute of Internal Auditors (IIA).
“The issue with standards is that standards are rules promulgated by an international accredited professional body. Once you use these rules or standards, it narrows subjectivity, it favours comparability and it ensures transparency,” he pointed out. “It is a challenging world and you have to get with it,” he added. Mr. McKnight was delivering the main address at the opening of a two-day public sector internal auditor’s symposium today (Oct. 31) at the Jamaica Conference Centre downtown Kingston. He told the group that as internal auditors, they have a duty to undertake their jobs effectively and ensure that there is transparency and accountability in their organisations. “As internal auditors, you have to consider yourself the medical consultants of public sector accountability. You have to ensure that the procedures are being followed, the laws are being adhered to, and your integrity doesn’t come with a price,” he stated.
The symposium, which is being hosted by the Ministry of Finance and Public Service’s Internal Audit Directorate, is being held under the theme: ‘Implementing the Institute of Internal Auditors (IIA) Standards for Quality Assurance’.
Among the topics that will be discussed over the two days are: Planning Audit Assignments and Managing your Internal Audit Resources; Influencing Management’s Attitude Towards Risks; Continuous Monitoring: A Fad or Paradigm; and Managing for Results.
Minister without Portfolio in the Ministry of Finance and Public Service, Senator Don Wehby, is expected to deliver the keynote address at tomorrow’s closing seminar.
The IIA is an international professional association with more than 130,000 members. It is recognized as the internal audit profession’s leader in certification, education, research, and technological guidance.