Confidentiality
However, the IAA boss also stressed on Professionalizing Public Sector Governance which also requires that accountants maintain a level of confidentiality. This conduct extends to prospective clients and employers, and past and present clients because due care must be taken to protect client’s information and safeguard critical information.
“Technology has made big data easily accessible and can be accessed from any point if connectivity exists. Hackers are migrating to more venerable sections of the globe because advanced societies are more aware and are adopting extra precautionary measures to forestall data breaches.”
According to him, whether in public practice or employed, Accountants must insist on their clients developing disaster recovery measures to protect information critical to their entity.
“Members of the LICPA, distinguished ladies and gentlemen, Professionalization of the Public Sector Governance is not an unrealizable vision, it is achievable and professional accountants can contribute to an effective service delivery.
According to him the organization for Economic Co-Operation and Development (OECD), the international body that works to build better lives in communities, identified 6 elements that must be present for an efficient and effective public sector delivery which he said includes; Leadership, ethics, and a culture committed to good public sector governance.
He also said, as accountants both in private and public practice, they are bound to act ethically.
Risk Management
He also share the view that, accountants and auditors must support management in developing an effective risk management strategy which helps the organization understand and address risks in an orderly and efficient manner.
Internal Compliance and Accountability
“An efficient and well-governed public sector organization will ensure that internal controls and accountability are clearly defined and consistent with the organization’s objective.
He furthered challenged accountants and auditors, to strive every day to uphold their fiducial responsibility to the public and that, Information about audits that they disclose must be balanced, between public interest and the integrity of their work.
“What we say and what we do, must be seen through facts and independence. Professionalizing the public sector and role of accountants in effective service delivery is a process that requires training, continued education and commitment to excellence.
“Our decisions must be independent and free of conflict of interest. You in public practice must be independent in fact and appearance. If we compromised this principle as accountants in public practice, we add to the growing mistrust that has eroded public confidence in professionals and institutions.”
