The Institute of Internal Auditors of Uganda (IIA) is advocating for a separate legal framework to regulate the internal audit profession separate from the Accountants Act.
President Ruth Doreen Mutebe addressing the media in Kampala said the profession’s regulation is currently embedded within legislation governing accountants, yet internal auditing has unique characteristics that require independent recognition.
“What we are working on is having a separate legal instrument that governs and guides internal auditors within the country, within Africa and generally world over,” Mutebe said.
Mutebe emphasised that the proposed legal framework is not intended to create divisions within financial professions, but rather to strengthen regulation while allowing for better collaboration across disciplines
She was speaking ahead of the 20th Annual Conference slated for 15th to 17th in Kampala.
According to Mutebe the event aims to strengthen governance, accountability, and strategic leadership, and are expected to attract over 500 professionals, including internal auditors, risk managers, compliance officers, regulators, and industry leaders.
Assistant Commissioner for Internal Audit at the Ministry of Finance, Annet Musiime, underscored the importance of strong internal audit systems in ensuring public resources deliver intended services
“When we have strong internal audit, our role is to support institutions in meeting their strategic objectives and ensure that what is being done benefits the public,” Musiime said.
The IIA is the internal audit profession’s global voice, recognized authority, acknowledged leader, chief advocate, and principal educator. Members work in internal auditing, risk management, governance, internal control, information technology audit, education and security.
The Institute of Internal Auditors Uganda is affiliated to the Institute of Internal Auditors Inc. with its headquarters in USA Florida.
It was formed in 2002 by Internal Audit practitioners as an Association and thereafter incorporated as a company limited by guarantee on 23 December 2008.
The Institute is managed by the Board of Directors elected every 2 years. The Board is composed of The President, Senior Vice President, and Vice President in charge of Membership, Vice President in Charge of Training, Certification and Academic Relations, Board Secretary, Treasurer, Immediate Past President and five Board Members drawn from both the public and private sectors.
