adminHarare Bureau
FINANCE Minister Patrick Chinamasa will headline the Institute of Internal Auditors annual conference scheduled for Victoria Falls next week to discuss the myriad of problems besetting the economy. Over 200 delegates converge in the resort town from the 22nd to the 25th of this month to share ideas on teething issues in the economy under the theme “Will The Sun Rise Tomorrow, Yes But…”
The conference encompasses 10 presentations and will cover a range of topics of current interest to internal audit, board members, senior executives and finance professionals at every level.
IIAZ chief executive Roy Bvekerwa said the structure of internal audit is key in light of challenges in the public sector. As such, the finance minister will discuss internal audit in the public sector.
“Honourable Patrick Chinamasa will speak on how the current internal audit governance structure can be improved to bring greater effectiveness in the public sector,” Bvekerwa said yesterday.
The Chairman of the Economics Department at the University of Zimbabwe Pheneas Kadenge, will present on the economic situation in Zimbabwe and also discuss factors such as demographics and trends creating economic risks and opportunities for Zimbabwe businesses, among other focus areas.
Corporate Governance guru, Mervyn King, the chairman of the King Committee on corporate governance (South Africa), will give insight on how the role of boards and management needs to change to ensure their organisations continue to perform well.
Corporate governance in Zimbabwe has undergone a tremendous challenge post the Zimbabwean dollar economy, ended by hyperinflation in 2008. The importance of corporate governance in creating long lasting brands is now well recognised.
Chantel Ilbury one of Africa’s leading strategists and facilitators, will share real examples of how risk management is playing its part in addressing the many critical business challenges in Zimbabwe.
Barnabas Chirombo the GRC-Head Africa Desk for CQS Technology Holdings will take delegates through the world of technology dynamics, which comes amid rapid technological changes globally.
Bvekerwa also said that the internal auditors of the future deliver their internal control assurance mandate by getting timely and relevant insights into business risks, governance and controls.
“Yesterday’s approach of point in time risk assessments with little ability to discover significant changes in the risk environment will no longer be adequate. Internal audit needs to review operations throughout the organisation at the speed of risk,” he said.
This is being driven by business operations becoming more creative to remain profitable and associated risks being more dynamic. Richard Cascarino will present on what internal auditors must do to succeed, inspire teams, be innovative and be organisationally savvy, skilled facilitators and expert communicators.
The conference comes as organisations today must take a contemporary approach to address the challenges of successfully doing business in an era of advancing technology, increasing globalisation, consumer and employee activism and increasing transparency and governance requirements for corporates.
Londile Moyo
Bongani Ndlovu