“Internal control must also ensure that management adheres to laid down rules, regulations and policies.”

The guest speaker and Managing Director of Neimeth International Pharmaceuticals Plc, Mr. Matthew Azoji, called on Nigerians to firmly resolve to not be a giver nor a receiver of bribe and corruption will die.
He said that internal auditors should report to the board committees of companies to fight against administrative corruption from management.

Quoting from the World Bank definition of corruption, Azoji said corruption is the wrong use of public office for personal gain.

The Neimeth boss stressed that corruption had devastating impact on the society by hampering human, infrastructural and economic development and called on the National Assembly to enact internal auditing law to check and prevent occurrence of fraud.

“As Nigeria continues to fight corruption in both private and public sectors, it is imperative that stakeholders would continue to support efforts like SWAIAP to ensure that corruption is exterminated in the country.

“Huge resources meant for development of nations are lost annually therefore hampering governments’ lifting of citizens from poverty.

“Corruption truncates access to education, which leads to inequality and leads to increasing cost of doing business by as much as 10 percent,” Azoji said.

He called on Nigerians to join government in fighting corruption, adding “when our Corruption Perception Index improves, we attract more foreign direct investments which will bring more opportunities for employments.”

Associate Professor of Accounting and Head Department of Accounting and Finance, Delta State University, Abraka, Dr. Edirin Jeroh, in his presentation urged SWAIAP to champion the call for the development of solid organisational culture and design of a rigorous framework on governance that will help to improve on the fight against corruption in Nigeria and West Africa.

“Governments should embrace participatory budgeting and citizens engagement and I urge Internal Auditors to constantly evaluate corruption and bribery risks through the inclusion of specific working procedures in the internal control framework of organisations. Evaluate incentives for compliance and disciplinary procedures for non-compliance,” Jeroh noted.