WELCOME TO 2020 A year of open doors for successful debates on restructuring and defining strongly the issues affecting Accounting and Audit Profession. At PAI we focus on training at a post graduate level and at most we point at our practicing auditors who are re-trainable to be trained again to meet the challenges in the profession in the 21st Century. Let’s think of ourselves as the domino auditors and think of what changes we need to be considered for by legislation.
In this case, What Lord Brydon report considers for audit independence has been pushed ahead in the UK calling for restructuring. For us at Professional Auditors Institute seek audit fraternity to grow with us and we will train them to be truly professionals. By also acquiring the designation thus: “Professional Public Auditor-PPA”
At PAI we consider this relevant and we say, ‘let the effect keep continuing and growing. As without independence audit demands coming up, they won’t mean anything but let our actions determine our accounting standards without compromising the notable auditing and accounting professions standards such as IFRS, GAAP,PPIAS and INTOSAI and or Yellow Book standards. Accounting and Auditing are not too big to fail to be trusted again and not too big to handle but it is a global issue with challenges that will be migrated through audit practice in a sound manner and it can be through audit automation and accounting software which won’t take away professional touch of auditing practice. Automation sounds pretty good to align with audit practice and surely we shall remain always relevant to all stakeholders.
Whatever the talk that auditing and accounting professions will remain irrelevant due to technology innovations does not hold water. We need automation to conceptualize issues and analyse reports and communicate on the necessary changes in compliance with the standards in a timely manner. There is no other escape route for audit profession as it remains resilient as it is biblical.
As audit practitioners experience existential culture battle wake of scandals we cease to be trusted. In fact many auditors are a shame to our profession so they require further training because auditors miss out on red flags and or audit escapisms is no more. More litigation will catch up with us anywhere in the world. Accordingly, audit risks have grown more and more with increasingly trending the lack of trust for us all yet only a few rats rant and spoil the game.
We call on ourselves as professional auditors not to witness these frequent audit litigation as it has been in 2019. We salute all capacity building partners in the profession and practice. We ought to enhance our resolve to gain auditors long standing trust not to be derailed by those few that are fronting themselves to perform audits with greed to grow rich quickly. We need a stand on professional practice and quality assurance of audit reports to mention but a few. We need to retrain those already in practice and we need to be stronger this time during audit process that audit team leaders and or supervisors must adhere to professional impartation to interns and audit practitioners. We invite all those willing to improve on their audit practice to join us and register for Professional Public Auditor Program 2022. We advice you all to Prepare to get ready for examinations diets as you may deem it fit. We also welcome our members to participate in professional development workshops. We invite more and more partners in our resolve to improve, capacity build auditors in government circles, NGOs and charities and private sector small and corporate business. Thank you indeed and compliments for 2020.
Richard Bernard Gudoi Gid’Agui, FPPA