GovEmmanuel Justifies Value Of Audit On Accountability, Transparency In Govt

By Timothy Ekpo

UYO

The Akwa Ibom State governor, Mr Udom Emmanuel, has said that the activities of the Association of Chief Audit of Banks in Nigeria has the capacity of contributing to the success of his administration on financial accountability and transparency.

The governor stated this at the Annual General Meeting (AGM) and Retreat of the Association of Chief Audit Executive of Banks in Nigeria (ACAEBIN), which recently took place at Ibom Icon Hotels and Golf Resort, Uyo, Akwa Ibom State.

Represented by the deputy governor, Mr Moses Ekpo, the governor said that as financial services professionals, he was aware of the critical role played in the financial service industry, which had to do with full compliance with ethical standards, keeping the books right and building a culture of transparency.

The governor who described the association as the financial service ombudsmen, said that as the world evolves, the chief audit executive needed to adopt new approaches in order to get things, especially now that the Covid-19 pandemic has disrupted public and private operations. He stated that there was need to expose professionals in the financial service industry to new vistas of job deliverables such as the retreat in Uyo.

Governor Emmanuel pointed out that transparency, being a key aspect of what the association projects, has been an abiding article of faith that has defined the pillars of his government, stressing that his administration came to serve with accountability and based on this, he has maintained zero-tolerance for wastages.

Mr Emmanuel said the state financial records were kept in the public domain, while the state budget and the way they are executed are equally matters of public knowledge. He said the result of the approaches are the reason Akwa Ibom hasachieved so much at that moment of economic adversity in the development of Ibom Air, massive roads construction, establishment of 20 industries, among others.

The chairman on the association, Mr Yinka Tiamuyi, said the theme for this year’s event could not have come at a better time than now due to the destruction caused by Covid-19 pandemic that had taken a grip of the banking sector and had forced the sector to change its method of rendering services.

He stated that as audit executive, there was need for them to continue to play their part as critical stakeholders and plan ahead not for the current situation, but by the emerging issues that happened in the industry as well by taking a look at the future and equipping themselves with the skills required to manage the future in order to perform better, not just as stakeholders but also as value advisor to their organisations.

He said in achieving success at the retreat, they had selected seasoned professionals and resource persons to handle various topics of interest to the association, noting that recent happenings today required the sector to minimize fraud and cyber crimes in the economy.