In an era where transparency and effective governance are key elements for business success, the absence of audit committees in public entities is a worrying issue that was recently highlighted at the 7th National Internal Audit Conference in Kinshasa, Democratic Republic of Congo. Internal auditors stressed the urgent need to set up these committees to ensure transparent and efficient management of public resources.
It is undeniable that transparency is a fundamental pillar for improving the performance of an organization. Indeed, by promoting a culture of responsibility and accountability, transparency not only helps to strengthen stakeholder confidence, but also to optimize internal processes and achieve convincing results.
The presence of audit committees in public entities is therefore of capital importance. These committees play a crucial role in supervising financial operations, preventing risks, and ensuring compliance with current standards and regulations. Their implementation strengthens internal control mechanisms and reduces the risk of fraud and embezzlement.
In addition, collaboration between internal and external auditors is also a key element in ensuring audit quality and improving the company’s overall performance. This synergy between the various audit stakeholders provides a holistic and comprehensive approach to assessing management practices and processes.
The national internal audit conference in Kinshasa was therefore an opportunity to raise awareness among public and private stakeholders on the importance of internal auditing in promoting good governance and management practices. By highlighting the new internal audit standards and the added value they bring to institutions, this meeting helped strengthen the capacities of auditors to meet current and future challenges.
In conclusion, the establishment of audit committees in public entities and the promotion of transparency and collaboration between audit stakeholders are essential levers to ensure sound and effective governance. These initiatives are crucial to building public trust, improving organizational performance and contributing to sustainable and equitable development.