{"id":52698,"date":"2024-02-22T11:22:03","date_gmt":"2024-02-22T11:22:03","guid":{"rendered":"https:\/\/www.africa-press.net\/liberia\/all-news\/iaa-boss-raises-concern-over-the-creation-of-ad-hoc-committee-to-conduct-audits"},"modified":"2024-02-22T11:28:50","modified_gmt":"2024-02-22T11:28:50","slug":"iaa-boss-raises-concern-over-the-creation-of-ad-hoc-committee-to-conduct-audits","status":"publish","type":"post","link":"https:\/\/www.africa-press.net\/liberia\/all-news\/iaa-boss-raises-concern-over-the-creation-of-ad-hoc-committee-to-conduct-audits","title":{"rendered":"IAA Boss Raises Concern over The Creation Of Ad Hoc Committee to Conduct Audits"},"content":{"rendered":"

Africa-Press – Liberia. <\/strong><\/span>The head of the Internal Audit Agency (IAA) Mr. David A. Kemah has blamed recent discrepancy emanated from two major public pronouncements about public finances to what he called a glaring example sidestepping institutions with the mandates for ad-hoc arrangement.<\/p>\n

He believes that, the veracity of financial conclusions reached on a set of facts should not be in doubt when an independent objective accountant reviews the same sets of facts using the same standards.<\/p>\n

According to him, the scope becomes narrow and it is further complicated if some of the actors have political considerations. \u201cOur audit activity must be planned and designed so that it maintains our ability to make unbiased judgment and decisions based on facts and are free from any internal or external interference or obstruction. Public sector and corporate governance should be designed to operate effectively.\u201d<\/p>\n

Speaking at program marking the accountants\u2019 week of the Liberia institute of certified public accountants (LICPA) he furthered stated that, the veracity of financial conclusions reached on a set of facts should not be in doubt when an independent objective accountant reviews the same sets of facts using the same standards.<\/p>\n

Confidentiality<\/b><\/p>\n

However, the IAA boss also stressed on Professionalizing Public Sector Governance which also requires that accountants maintain a level of confidentiality. This conduct extends to prospective clients and employers, and past and present clients because due care must be taken to protect client\u2019s information and safeguard critical information.<\/p>\n

\u201cTechnology has made big data easily accessible and can be accessed from any point if connectivity exists. Hackers are migrating to more venerable sections of the globe because advanced societies are more aware and are adopting extra precautionary measures to forestall data breaches.\u201d<\/p>\n

According to him, whether in public practice or employed, Accountants must insist on their clients developing disaster recovery measures to protect information critical to their entity.<\/p>\n

\u00ad\u201cMembers of the LICPA, distinguished ladies and gentlemen, Professionalization of the Public Sector Governance is not an unrealizable vision, it is achievable and professional accountants can contribute to an effective service delivery.<\/p>\n

According to him the organization for Economic Co-Operation and Development (OECD), the international body that works to build better lives in communities, identified 6 elements that must be present for an efficient and effective public sector delivery which he said includes; Leadership, ethics, and a culture committed to good public sector governance.<\/p>\n

He also said, as accountants both in private and public practice, they are bound to act ethically.<\/p>\n

Risk Management<\/b><\/p>\n

He also share the view that, accountants and auditors must support management in developing an effective risk management strategy which helps the organization understand and address risks in an orderly and efficient manner.<\/p>\n

Internal Compliance and Accountability <\/b><\/p>\n

\u201cAn efficient and well-governed public sector organization will ensure that internal controls and accountability are clearly defined and consistent with the organization\u2019s objective.<\/p>\n

He furthered challenged accountants and auditors, to strive every day to uphold their fiducial responsibility to the public and that, Information about audits that they disclose must be balanced, between public interest and the integrity of their work.<\/p>\n

\u201cWhat we say and what we do, must be seen through facts and independence. Professionalizing the public sector and role of accountants in effective service delivery is a process that requires training, continued education and commitment to excellence.<\/p>\n

\u201cOur decisions must be independent and free of conflict of interest. You in public practice must be independent in fact and appearance. If we compromised this principle as accountants in public practice, we add to the growing mistrust that has eroded public confidence in professionals and institutions.\u201d<\/p>\n

For More News And Analysis About Liberia<\/a> Follow Africa-Press<\/a><\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"

Africa-Press – Liberia. The head of the Internal Audit Agency (IAA) Mr. David A. Kemah has blamed recent discrepancy emanated from two major public pronouncements about public finances to what he called a glaring example sidestepping institutions with the mandates for ad-hoc arrangement. He believes that, the veracity of financial conclusions reached on a set […]<\/p>\n","protected":false},"author":84,"featured_media":52697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[2,12],"tags":[233,237,234],"class_list":["post-52698","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-all-news","category-policy","tag-africa-press","tag-africa-press-liberia","tag-liberia"],"yoast_head":"\nIAA Boss Raises Concern over The Creation Of Ad Hoc Committee to Conduct Audits - Liberia<\/title>\n<meta name=\"description\" content=\"The head of the Internal Audit Agency (IAA) Mr. David A. 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