[kictanet] Why ISACA is cracking the whip on individual auditors

[K Machuhi]

IT Audit for banks require very sharp-ended subject matter expertise.
As someone smack in that space, it amazes us to see audit firms pretending
and proposing to conduct IT Audits yet they have zero knowledge on how
particularly, core banking systems work.




On Fri, Apr 8, 2016 at 2:55 PM, Paul Roy via kictanet <
kictanet at lists.kictanet.or.ke> wrote:

> Dear Listers,
>
> On November 13, 2015 I wrote to the CBK governor Dr. Njoroge expressing
> concerns over the conduct of audit firms in Kenya. Top of my agenda was to
> instill discipline to the auditors in Kenya and restore confidence to
> shareholders over reported state of their business. This was as a result of
> the collapse of Imperial bank with blames pointing to weak audit practices
> and some sort of collusion.
>
> As you may know, I am the current President of ISACA Kenya the body that
> certifies and regulates IT/System Auditors(CISA). ISACA has a code of
> conduct for all it's professionals working in the cybersecurity, assurance,
> audit and risk management functions. All certified members know that they
> are required to adhere to strict ethical standards.
>
> That's why in the wake of the mounting blames on poor audits and in
> particular IT audits, as an association we are going to investigate
> individual auditors and recommend that they are struck off their title
> should they be found culpable. Further we are going to work with CBK to
> enforce that all IT/System auditors must be fully certified and also be in
> good standing with professional bodies ICPAK, ISACA & others.
>
> By holding individuals accountable will help eliminate instances of
> collusion and professional negligence in performance of IT/System Audits
> and give shareholders and the regulator a true reflection of their
> financial institutions.
>
> Your views and suggestions are welcome.
>
> regards,
>
> Paul Roy Owino.
> ISACA President.
>
>
>
>
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