Fin24.com | Speak out on corruption, auditor network urges corporates

Johannesburg – The Institute of Internal Auditors South Africa (IIA SA) has urged corporates to speak out on corruption in a bid to salvage professional reputations and create an ethical culture in organisations.

May is International Internal Audit Awareness Month, and IIA SA considers it a period of potential renewal, but also serious reflection.

IIA SA is part of an international network representing the interests of Internal Auditors worldwide.

Vonani Chauke, chairperson of IIA SA‘s board, said the country‘s current business climate necessitated “serious reflection and contemplation” for the auditing profession.

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There was, however, also the opportunity for a fresh start. “This is a period of renewal and revitalisation,” Chauke said. 

Internal auditors in South Africa have faced increased scrutiny of late, as several have made headlines over alleged irregularities in auditing practices. These include prominent auditors KPMG, Deloitte and PwC.

Recently,  that the Auditor-General’s office terminated the government’s contracts with KPMG and Nkonki Inc.

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Nkonki applied for voluntary liquidation soon after that, but KPMG remains operational.

Recently, the Independent Regulatory Board for Auditors (IRBA) said it would stop hiding the names of auditors and auditing companies found guilty of contravening its professional standards, code of conduct and the law.

IIA SA also said International Internal Auditors Month was an opportunity to build awareness of the role of internal auditors in the workplace.

Dr Claudelle von Eck, CEO of the IIA SA, said internal auditors played “a major role in combating unethical behaviour and ensuring good corporate governance principles are applied through risk identification and mitigation”.

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