Uganda’s Supreme Audit Institution Emphasizes Importance of Objectivity in Internal Auditing
Introduction
The Supreme Audit Institution (SAI) of Uganda has highlighted the significance of objectivity in internal auditing, underscoring its role in ensuring the quality and credibility of audit work.
The Importance of Objectivity
Objectivity is an unbiased mental attitude that allows internal auditors to perform engagements with confidence in their work product. This requires evaluating client records without preconceived notions or prejudices. SAI emphasizes that objectivity is crucial for maintaining the highest standards of professionalism and integrity.
- An unbiased mental attitude allows internal auditors to believe in their work product
- No quality compromises are made, ensuring accurate audit results
- Internal auditors can evaluate client records without prejudice
Professional Skepticism
Professional skepticism involves a questioning mind, being alert to conditions that may indicate possible misstatement due to error or fraud, and a critical assessment of audit evidence. This approach enables internal auditors to identify potential issues and take corrective action.
- Questioning mind: Internal auditors must be willing to challenge assumptions and seek clarification
- Alertness to potential issues: Identifying conditions that may indicate errors or fraud
- Critical assessment of audit evidence: Evaluating data to ensure accuracy
The Role of SAI
The Supreme Audit Institution’s guidance on objectivity is part of its efforts to promote good governance and accountability in Uganda. SAI has been working closely with other stakeholders to strengthen the country’s audit profession and improve the overall quality of auditing services.
- Strengthening the audit profession: Promoting best practices and standards
- Improving auditing services: Enhancing the credibility and reliability of audit results
Conclusion
The Supreme Audit Institution (SAI) recognizes the critical role internal auditors play in ensuring organizational governance and risk management. By emphasizing objectivity and professional skepticism, SAI aims to help internal auditors maintain their independence and impartiality, building trust with stakeholders.
Contact Information
- The Supreme Audit Institution (SAI) of Uganda
- Plot 2C Apollo Kagwa Road, P.O Box 7083, Kampala
- Tel: +256 -41- 7 336 000, Fax: +256 414 345 674
- Email: info@oag.go.ug
- Website: www.oag.go.ug