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Auditors Hear Assurance Framework’s Importance For Risk Management

Assurance Frameworks are very beneficial when it comes to managing an organisation’s risk management and governance. These were the remarks from Noel Lawlor, the Director of Assurance and Compliance from
06 Dec 2015 10:39
Auditors Hear Assurance Framework’s Importance For Risk Management
Participants from different organizations present at the Institute of Internal Auditors Fiji Annual Conference.

Assurance Frameworks are very beneficial when it comes to managing an organisation’s risk management and governance.

These were the remarks from Noel Lawlor, the Director of Assurance and Compliance from the University of the South Pacific.

“Developing assurance frameworks which are bodies of evidence that are collected in order to enable organisations to see how they are managing risks to the various objectives that the organisations might have,” Mr Lawlor said.

He was speaking during the Institute of Internal Auditors Fiji’s annual conference underway at the InterContinental Fiji Golf Resort & Spa, Natadola.

Mr Lawlor further said this conference would prepare the participants to perform better in both the private and public sector.

He said: “There is an increased emphasis on accountability, transparency and responsibility particularly now that Fiji has moved into democracy.

“There is a greater need for transparency on how public funds are used.”

Mr Lawlor stressed Fiji needed to have a better framework of assurance which would later encourage more investors to invest in Fiji.

“From the private sector point of view, having better framework of assurance will give greater confidence to shareholders and give greater confidence to other investors to actually invest in Fiji,” he said

“If we can develop better frameworks right across the big businesses in Fiji, that can only increase the level of confidence the other investors might have in terms of coming to the country and investing here in Fiji.”

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