Enhancing Internal Auditing through Technology and Leadership Wellness
The Directorate of Internal Audit at Lagos State University recently organized a training workshop aimed at strengthening the capacity of its staff and enhancing operational effectiveness. The event brought together experts from various fields, who shared insights on the future of internal auditing, the growing influence of artificial intelligence (AI), and the importance of maintaining good health while in leadership roles.
Mrs. Margaret Iyabo Ogunkoya, the Director of Internal Audit at LASU, highlighted how technology and AI have significantly transformed internal auditing. She noted that digital tools have improved the efficiency of audit processes, enabling auditors to prepare and submit reports more quickly and accurately. According to her, internal auditing promotes transparency and accountability by ensuring that organizational activities are properly monitored and reported.
Internal auditors play a crucial role in ensuring that operations align with established procedures and that management is well-informed about institutional activities. Mrs. Ogunkoya emphasized that one of the key responsibilities of internal auditors is to proactively identify potential risks. By continuously assessing areas of vulnerability, auditors can communicate their findings to management, helping to prevent problems before they escalate and supporting informed decision-making.
Mr. Erere Oghenekevwe Oyibo-Rhokaye, a Project Manager IT Portfolio Programme at MTN, explained that internal auditing is an independent and objective activity designed to add value and improve an organization’s operations. He outlined the primary role of internal audit in evaluating and improving risk management, internal control systems, governance processes, regulatory compliance, and operational efficiency.
Oyibo-Rhokaye noted that the profession is undergoing a major transformation due to digitalization, automation, and data intelligence. Technologies such as AI, Machine Learning, Data Analytics, Continuous Monitoring, Robotic Process Automation (RPA), and Natural Language Processing (NLP) are changing the way audits are conducted. He pointed out that traditional methods relied heavily on manual processes and sample testing, whereas modern AI-driven auditing introduces automated processes, full-population testing, and predictive approaches.
He highlighted the benefits of AI in detecting unusual patterns in large datasets, identifying suspicious transactions, and analyzing millions of records quickly. These capabilities enhance efficiency and allow auditors to focus on strategic decision-making. However, he warned of challenges such as poor data quality, algorithm bias, cybersecurity threats, and a shortage of skilled professionals.
Looking ahead, Oyibo-Rhokaye predicted that predictive auditing, AI-assisted reporting, hyperautomation, and increased regulatory oversight of AI will become more prominent in the auditing profession.
Executive Health and Leadership Well-being
The programme also featured a presentation by Dr. Lukman Olusesi, Head of Medical and Health Services at Epe Campus, LASU. He discussed “Andropause, Menopause and Stress Management for Executive Managers,” challenging the belief that successful executives can perform at high levels without paying a physical price.
According to Olusesi, stress is not just an emotional experience but a physiological one. He explained that executives face numerous pressures, including deadlines, audit queries, government circulars, political influences, and staff-related challenges, all of which contribute to rising stress levels. Prolonged stress can lead to health issues such as elevated blood pressure, increased blood sugar, abdominal fat accumulation, reduced libido, and poor sleep quality.
Olusesi emphasized that executive performance depends on the balance between stress management, sleep quality, and hormonal health. When any of these factors is disrupted, productivity and well-being suffer. He advised leaders to engage in regular exercise, prioritize their health, and develop routines to recover from daily stress.
Fundamentals of Internal Auditing
Mr. Lawal Olatunde Temitope, Deputy Director of Internal Audit at LASU, discussed the fundamentals of internal auditing and effective audit reporting. He reiterated that internal auditing is an independent and objective activity aimed at improving organizational performance.
The scope of internal auditing includes financial audits, operational audits, performance audits, and risk management reviews. Lawal stressed the importance of adhering to principles such as integrity, objectivity, confidentiality, competence, independence, and professional due care.
He outlined the major stages of the audit process: planning, preliminary surveys, analysis of findings, reporting, and follow-up reviews. Successful audit planning requires a clear understanding of the audit area, defined objectives, appropriate scope, and adequate resources.
When it comes to audit reporting, Lawal highlighted the importance of presenting findings clearly and professionally. He introduced the Five Cs of audit findings—Criteria, Condition, Cause, Consequence, and Corrective Action—as essential elements for effective communication.
He also identified common challenges in audit writing, such as inadequate evidence, ambiguous language, delayed reporting, and bias. To overcome these, he recommended improved documentation, clear communication, objectivity, and timely reporting.
Conclusion
The training highlighted the evolving nature of internal auditing in a technology-driven world. While AI and automation offer new opportunities, the need for professional competence, ethical conduct, and continuous learning remains critical. At the same time, discussions on executive health underscored the importance of physical and mental well-being for effective leadership. The event reinforced the idea that the future of internal auditing lies in the integration of technology, sound governance, and human expertise.
