Mombasa: Kesses Member of Parliament (MP) and Certified Public Accountant (CPA) Julius Ruto is advocating for the establishment of well-structured and independent internal audit departments across public institutions as a key measure to combat corruption and prevent the misuse of public resources. Speaking on the sidelines of the 22nd Annual Internal Audit Seminar organized by the Institute of Internal Auditors (IIA) Kenya in Mombasa, CPA Ruto affirmed that the National Assembly is keen to develop a robust, sound legal framework to facilitate the minimization of wastage of public resources through amendments to the Audit Act.
According to Kenya News Agency, the move will not only curb direct corruption in government institutions but also address the wastage of time and resources. CPA Ruto noted that the current corruption is more systemic, evolving with technology, which requires an equally advanced understanding to counteract. He emphasized the importance of strengthening internal audit to curb corruption and profligacy, as technology advancement demands knowledgeable individuals.
CPA Ruto highlighted that organizations have traditionally relied on external auditors, which he described as post-evaluation processes. These auditors provide comments and advisories, but following up on issues raised has proven challenging. He remarked that auditor reports often repeat prior year issues, resulting in a loss of value for money and time.
Institute of Internal Auditors Kenya Chairperson Lilian Mwangi echoed Ruto’s sentiments, emphasizing the growing relevance of internal audit in the digital age. She noted that the profession has evolved into a strategic advisory role, moving beyond compliance and financial audits. This year, global internal audit standards were revised, with a renewed focus on excellence.
Mwangi added that the profession is embracing technology and aligning with organizational strategies to deliver timely and impactful advisory services. She revealed plans to integrate artificial intelligence into audit processes to boost efficiency and responsiveness. To remain agile in a changing risk environment, she stated that they stay informed about local and global developments to provide accurate advice to organizations.