he Auditor-General, Lagos State, Mr Moshood Adewuyi on Tuesday, described the role of auditors as watchdogs and gatekeepers.
He charged the Head of Internal Audits in Nigerian universities to embrace principles of good governance, accountability, and transparency to improve their respective institutions.
Adewuyi gave the advice at the 36th National Conference and Annual General Meeting (AGM) of the Committee of Head of Internal Audits Departments/Units In Nigerian Universities (CHIADINU), held at the Lagos State University (LASU) in Lagos.
The Auditor-General was represented by Ms Olufunmilola Coker, Head, Internal Audit, Lagos State Urban Renewal Agency (LASURA) at the conference.
The theme of the conference is “Governance, Risk Management and Compliance : Issues and Insights For University Internal Auditors”.
He stated that the role of internal auditors cannot be overemphasised in any private or public organisation, noting, “they are indispensable in ensuring compliance with extant financial rules and regulations”.
Adewuyi said this compliance allows the internalisation of processes and procedures in the application of resources.
“The role of auditors put them as ‘watchdogs or gatekeepers’ because they ensure proper documentations, examination of books and records, monitoring the use of resources in accordance with pre-determined financial plans, and safety of organisational assets.
“Our roles are essential to the growth and development of the respective universities where we work, and especially in situations where resources are limited and where value for money is expected,” he added.
According to him, the auditors must embrace effective organisational risk management and mechanisms established to ensure adherence.