NOVA Merchant Bank to host chief audit executives of banks June 23

Nath Ude

NOVA Merchant Bank will on June 23 host the 52nd quarterly general meeting of the Association of Chief Audit Executives of Banks in Nigeria (ACAEBIN) at the Oriental Hotel in Lagos.

Themed ‘The Future of Internal Audit in an Increasingly Digital World’, the meeting will bring together auditors and other stakeholders in the banking industry including the law enforcement agencies to deepen discussions on the need to create more innovative processes and formulate automation for internal auditors to succeed in the ever-evolving technology landscape.

Chief host of the event, the managing director/CEO of NOVA Merchant Bank Limited, Nath Ude, said the bank remains fully committed to supporting initiatives aimed at easing business solutions and promoting digitalisation.

He said, “I am particularly happy at the theme for the event as the topic is apt and in line with the global trend of revolutionalised thinking and the future demands that auditors, who are now dealing with more advanced and more technical business processes, require advanced technical IT and IS skills to bring increased value to their execution.”

Mr Ude further emphasised that the vulnerability to financial loss and data compromise in the digital space has been a significant concern that requires auditors to understand the digital processes and exposures that businesses face.

He noted that a new breed of internal auditors will be needed to move organisations forward in this digital world and that businesses must recognise and support this as auditors are an integral part of the workforce.

Also reiterating the need for auditors to understand the digital processes, the chairman of ACAEBIN, Uduak Udoh, said that the banking industry is automating the delivery of its services in line with technological advancement as such, auditors need to reskill, up-skill and innovate to be able to face the challenges of the time.