IIA Nigeria urges strong internal audit mechanism
The Institute of Internal Auditors Nigeria (IIA Nigeria) has called for stronger internal audit systems across government institutions to improve financial accountability and safeguard public trust. The call was made during separate engagements with the Public Accounts Committees of the House of Representatives (Nigeria) and the Nigerian Senate at the National Assembly Complex in Abuja. […]
L-R: Member, House of Representatives, Honourable Obetta Mark Chidi; CEO Institute of Internal Auditors (IIA) Nigeria, Don Umeha; Chairman, House of Representatives, Public Accounts Committee (PAC) – Honourable Bamidele Salam; Board Chairman Institute of Internal Auditors (IIA) Nigeria, – Simon-Jude Mmayie; Member, Institute of Internal Auditors – Moses Shodipe; Director, Institute of Internal Auditors, Irene Nwankwo; Member, Institute of Internal Auditors, Patrick Okoro; and Director, Institute of Internal Auditors, Ibrahim Alkali; during the Institute meeting with the Chairman, House of Representative Public Accounts Committee (PAC) to discuss Internal Audit in Nigeria legislation framework in Abuja.. recently
The Institute of Internal Auditors Nigeria (IIA Nigeria) has called for stronger internal audit systems across government institutions to improve financial accountability and safeguard public trust.
The call was made during separate engagements with the Public Accounts Committees of the House of Representatives (Nigeria) and the Nigerian Senate at the National Assembly Complex in Abuja.
The meetings formed part of ongoing consultations as lawmakers deliberate on the proposed Federal Audit Service Bill, which aims to strengthen Nigeria’s public financial management and oversight framework.
Leading the delegation, the Chairman of IIA Nigeria’s Board, Simon‑Jude Mmayie, and the institute’s Chief Executive Officer, Don Umeha, emphasised the need to institutionalise effective internal audit structures across Ministries, Departments and Agencies (MDAs).
Umeha said robust internal audit mechanisms could help detect financial irregularities early and prevent larger systemic failures.
“A robust internal audit system can identify financial irregularities before they escalate into systemic failures, safeguarding public funds and boosting investor confidence,” he said.
At the House of Representatives meeting, the delegation engaged the Chairman of the Public Accounts Committee, Bamidele Salam, alongside other lawmakers, including Mark Chidi Obetta.
Discussions focused on strengthening legislative backing for internal audit functions to complement external audits conducted by the Office of the Auditor-General for the Federation.
Mmayie described the engagement as a partnership between professional auditors and lawmakers aimed at strengthening fiscal discipline.
“The goal is not merely compliance but building a governance system that prevents financial mismanagement before it happens,” he said.
During a similar meeting with the Senate Public Accounts Committee, the institute reiterated the need for stronger collaboration between internal auditors and the Auditor-General’s office to improve oversight of public finances.
Participants at the Senate session included IIA directors Irene Nwankwo and Ibrahim Alkali, as well as members Moses O. Shodipe and Patrick Okoro.
In its position paper presented during the meetings, IIA Nigeria proposed several reforms to strengthen financial transparency in MDAs. These include formal recognition of internal audit within the national accountability framework, establishment of professionally managed audit units in government agencies and strengthened independence for internal auditors.
The institute also recommended the creation of independent audit committees within MDAs and the professionalisation of internal audit leadership to ensure that heads of audit units possess globally recognised qualifications and undergo continuous professional development.
Observers say the engagement reflects growing recognition among policymakers that strong internal audit systems can help reduce corruption risks, improve financial management and enhance public confidence in governance.