Professional Auditors Institute-PAI is a limited company registered by guarantee as a membership organisation destined to Appropriately Serve, Preserve Ethics, Promote Integrity, and retain Dependability. Fraud and hackers have become a menace even at the level of hacking in space, Banks and secret data on government information in developed and developing countries despite tt
PAI is in the bid to demonstrate through post graduate training to add value to the already practicing auditors who would like to improve in their skills portfolios and achieve Professional Auditors Designation-PPA for the benefit of all stakeholders.
However, PAI offers a three level written examination for one to become a PPA. Upon completion after two years of professional field work (articles), a PPA is expected to write a board examination for [professional practice] at level four. Upon passing this fourth level, the PPA will have completed articles to start practicing as a public auditor. We emphasise Professional Standards as a guide at all levels of audit practice for the PPA and its members therefore, must manage their practices as well as observing the codes of ethics.
PAI exists in its own right as an independent examining body, and PPA certificates and membership award institution for the entire membership globally. PAI does not intend to compete with other accountancy bodies but work in partnership with a common view to achieve a common objective.
PPA stands for Professional Public Auditor as a designation awarded only to full members who have satisfactorily certified the PAI audit examinations council with a minimum pass mark of 65%.
As mentioned by Galvanize Team Africa, key trends on audit are glowingly ridding faster and shall not remain static but openly ready to meet new challenges in the profession. Such as regulatory requirements, shared skills at the top, Performance and regulatory pressures. PAI calls for modernity and go for auditing strategy basing on risk minimization.
With training at PAI, we throw stronger our destiny to boost your audit skills to another level So we warmly ask you to become a full member not to be left behind traditional bureaucratic auditing and don’t miss out on this focus premised on improving the skills of the converted accountants who prefer auditing to any other skill. Especially in East Africa 1.5 billion people as one market and 3 trillion dollars economy conservatively combined, auditors need this area of interest to empower auditors to perform in response to anything beyond this level. We expect to engulf and contain human error that comes with artificial intelligence such as cloud accounting. We believe in cloud accounting and auditing IFRS standards must come up clearly pronouncing itself on all transactions and assurances. As we expect a lot of skills gaps enshrined in human errors (AccountinbWeb, co, UK). Further it identifies 1``1 security risk which impact business performance because garbage in garbage out implies that data asymmetry hence information distortion indicators thrive to dodge transaction tax. Fraudsters are frantic, but are live hacking as economic poverty may demand.
Auditors never give up because everything you do adds up something of value to your career.
Moreover, auditing practices come up under oversight boards’ tangent to completely unleash with full exposure on the deficiency in audit professional practices.
Upon this premise, PAI program is out rightly focusing on the skilled auditors and post graduate candidates at PAI to by memoir recite or rehearse auditing standards and accounting standards so we can change the world to underscore on the services of and auditor are paramount.
IMPORTANTLY, Auditing is a service based skill. Professionalism in auditing requires centralized partnerships with governments, business and civic organizations in tandem with IFAC. Although standards guide the performance of expert auditors, judgment errors must be properly minimised in cases were an auditor needs to impinge professional clout to guidelines on assurances for stakeholders to benefit from this services. Unfortunately, the constant abuse of positions such as opportunistic snug accountants is committing fraud such as tax accountants and auditors from “Norfolk pleaded guilty of stealing £250,000 from clients and betrayed his employers, accountancy firm Love well Blake’. Similarly, as evidenced, between October 2010 and March 2017 this fraudster swindled £207,107 from 25 to 30 clients and £40,477 from the firm and used the money to fuel a £1,000 a day gambling addiction. Besides, auditors and police investigation to confirm several frauds against some clients and the accountancy firms are now left to wonder why clients are now dropping auditors for hire. As auditors certified from PAI and as PPA holders, the profession must perform to its required mandate.
Although the fraudster, pleaded guilty to two fraud counts over a seven-year period, he admitted to the police that his fraudulent activity stretched back over a 12-year spell, and the money taken could amount to as much as £400,000. With this background, PAI is adding its voice to international audit fraternity to envisage at all time the ever upcoming threats affecting audit practice like compromising ethics for bribes so as to write a clean audit report is not only ungodly but is inhuman and criminal.
Richard Bernard Gudoi Gid’Agui.CFE, CIA, PPA
President at Professional Auditors Institute.
Below is the organisation chart for PAI