Internal Audit for Organizations is Stressed by SWAIAP’s New Board

When announcing new board members to oversee the society for another three years, the Society for West African Internal Audit Practitioners (SWAIAP) stressed the value of internal audit to West African economies.

Internal auditors and allied assurance experts from West African nations are organized and brought together by SWAIAP, a professional organization.

The society’s quarterly meeting recently saw the unveiling of the new board members, with Mr. Obinna Okafor emerging as the new chairman and Prof. Godwin Oyedokun as the vice-chairman.

Following a simple majority vote, Okafor was elected Chairman, and Oyedokun, who had co-contestants stand down for him at the virtual meeting, was elected Vice-Chairman.

Okafor possesses 20 years of experience in the financial services sector, with expertise in risk management at the senior management level, compliance, audit, and accounting. He is a member of many professional organizations, including the Nigerian National Advisory Council of the Institute, UK, the Chartered Institute for Securities and Investment, the Institute of Chartered Accountants, and Compliance Institute.

He now serves as the managing consultant and CEO of Vicosbin Consult.

Oyedokun is a professor of management and accounting at Lead City University in Ibadan and a renowned public affairs expert and sought-after thinker.

He has over 22 years of experience and is currently a member of the Governing Councils of the Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN), the Chartered Institute of Taxation of Nigeria (CITN), and the Chairman of the Ilupeju/Gbagada & District Society of the Institute of Chartered Accountants of Nigeria (ICAN).

Okafor promised to lead an inclusive government in his victory address, calling on all members to support him.

Oyedokun said that his new office was a call to service and added that a call to service was a call to add additional issues to an already existing profile, which in his opinion is sacred.

He stressed the need of robust internal audit, emphasizing that it serves as the second line of defense.

Internal audit’s efforts “will guarantee that organizational assets are secured, ensure faithful depiction of financial reporting, and strict adherence to regulations,” the speaker stated.

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