The Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) has reaffirmed its unwavering commitment to raising the bar when it comes to the quality of internal audit reports, with the aim of exceeding the expectations of stakeholders. This pledge was voiced during a comprehensive two-day training session on ‘Internal Audit Staff Report Writing and Effective Communication Skills.’ The event was organized in collaboration with Platinum Edge Consulting, and it drew together professionals from across the banking sector in Nigeria.
At the helm of ACAEBIN, the Chairman, Prince Akamadu, expressed the association’s resolute dedication to enhancing the quality of internal audits, aspiring to meet and even exceed global standards. He articulated that one of ACAEBIN’s primary objectives revolves around building the capacity of the Internal Audit Function to align with international benchmarks, thus empowering auditors to function more efficiently and effectively. Over time, ACAEBIN has been deeply committed to nurturing the skill sets of Chief Audit Executives (CAEs) and Internal Auditors, a commitment that directly contributes to enhancing the overall quality of the industry.
Prince Akamadu used this platform to encourage the participants of the training to make the most of the valuable opportunity provided by the event, underlining the significance of the training session for both the individuals and the industry as a whole.
In addition to the Chairman, the second vice chairman of ACAEBIN, Mogbitse Atsagbede, also addressed the gathering, emphasizing the pivotal role that capacity development plays in the association’s mandate. Notably, these training programs are typically funded by ACAEBIN, offering a no-cost benefit to member banks. Mogbitse underlined the unwavering commitment to promoting competence and professionalism within the industry. He further mentioned that ACAEBIN is committed to organizing at least two training sessions for Internal Auditors and one for the CAEs (its members) each year. This is a significant investment in the continuous improvement of the industry’s professionals.
It’s worth noting that ACAEBIN has recently organized a one-week training program for its members in Kigali, Rwanda, focusing on the Imperatives of CAEs in the Digital Age. This international collaboration was made possible through a partnership with Ernst and Young Nigeria, showcasing ACAEBIN’s commitment to staying at the forefront of industry developments.
The Association of Chief Audit Executives of Banks in Nigeria, or ACAEBIN, operates as a not-for-profit sub-committee of the Bankers’ Committee. Their mission encompasses the sustenance of high ethical values, the promotion of competence, and the nurturing of professional behavior among its members. Furthermore, ACAEBIN actively fosters cooperation among member banks and collaborates with Law Enforcement Agencies in the ongoing battle against banking fraud, serving as a critical guardian of the industry’s integrity.
The two-day training, which took place on October 18th and 19th, 2023, in Lagos, was conducted in collaboration with Platinum Edge Consulting, a distinguished training and consultancy firm with expertise in various aspects of the banking sector. This event was well-attended, drawing over 60 Internal Auditors from 42-member banks, including Development Financial Institutions within the country. The training program aimed to equip the participants with a comprehensive understanding of the criteria for assessing internal audit performance, enhancing the contribution of internal audit reports, and refining communication styles. Additionally, it provided the participants with valuable insights into leveraging Internal Audit Management Software to streamline reporting processes. This included the ability to generate internal draft audit reports for audit comments, produce final reports tailored to management, board audit committee, and board meetings, and effectively track and manage audit incidents.
Conclusion: ACAEBIN
ACAEBIN’s commitment to elevating the quality and professionalism of internal audits in the banking industry is evident through its extensive training programs and international collaborations. By providing valuable resources and expertise to its members and engaging in the fight against banking fraud, ACAEBIN plays a pivotal role in maintaining the integrity and excellence of the banking sector in Nigeria.
