SWAIAP Approves New Board, Stresses internal Audit for Organisations 

Omolabake Fasogbon..

The Society for West African Internal Audit Practitioners (SWAIAP) has emphasized the importance of internal audit to West Africa economies, just as it announced new board members to lead the society for another three years.

SWAIAP is a professional body that organises and brings together internal auditors and related assurance, providing professionals across West African countries.

The announcement of the new board members was made recently at the society’s quarterly meeting, where Mr. Obinna Okafor emerged the new chairman and Prof. Godwin Oyedokun, the Vice-Chairman.

Okafor emerged the Chairman following a simple majority vote while Oyedokun was declared the Vice-Chairman after co-contestants stepped down the for him at the virtual meeting. 

Okafor boasts 20 years’ experience in the financial services industry, including compliance, audit, accounting and risk management to the executive management level. He belongs to many professional bodies which include Chartered Institute for Securities and Investment; Institute of Chartered Accountant; Compliance Institute, Nigeria and Nigerian National Advisory Council of the Institute, UK, amongst others.

He is presently the Managing Consultant/Chief Executive Officer of Vicosbin Consult.

Oyedokun is a public affairs analyst, and a consummate human capital development sought-after intellectual who is a Professor of Management and Accounting at Lead City University Ibadan.

With over 22 years’ experience, he is currently a Governing Council member of the Chartered Institute of Taxation of Nigeria (CITN), Business Recovery and Insolvency Practitioners of Nigeria (BRIPAN), and the Chairman, Ilupeju/Gbagada & District Society of the Institute of Chartered Accountants of Nigeria (ICAN).

In his acceptance speech, Okafor vowed to run an all-inclusive administration, while he called for support of all members.

Oyedokun pointed out that his new office was a call to service, adding that a call to service was a call to add more troubles on existing profile which according to him is sacrosanct. 

He emphasized the need for strong internal audit, stressing that it is the second line of defence. 

“The effort of internal audit will ensure that assets of organisation are safeguarded, ensure faithful representation of financial reporting and strict adherence to policies”, he said.