Reserve Bank of Malawi wants auditors to confront corruption

The Reserve Bank of Malawi (RBM) has urged auditors in the country to lead in the fight against corruption.

RBM Deputy Governor William Matambo made the remarks in Mangochi at the Silver Jubilee celebration of the Institute of Internal Auditors (IIA).

The event was held under the theme ‘Be the Change: Internal Audit in the Era of Disruption’.

Matambo said there is potential among auditors that can be utilised to help in fighting corruption by detecting financial fraud in the private and public sectors.

“They [auditors] should be change agents they are supposed to be because we are facing a lot of challenges including corruption, which is significantly increasing. They should also have a proper work ethic that is responding to the current trends that are prevailing in Malawi,” he said.

Matambo then asked the auditors to propose to government legal frameworks and other instruments which will help in making the sector more professional and updated to emerging trends.

He called for need to have all the auditors registered by the IIA for easy policing and monitoring of how they are performing.

In his remarks, IIA President Alick Mwale said the institute is happy with the progress it has made in the past 25 years.

But Mwale said the IIA is facing regulatory challenges.