The University of Pretoria and Nanjing Audit University. IAEP Programmes: progress through sharing

Posted on July 20, 2011

Both of these institutions have been accredited by the Institute of Internal Auditors (IIA) as Internal Auditing Educational Partnership (IAEP) schools. The Department of Auditing at UP has centre of excellence status (one of only five schools globally which has this status) and the IAEP School at NAU has been accredited at the partner level (one of sixteen partner schools).

Prof Chen Danping from NAU visited UP to present guest lectures to internal auditing practitioners, academics and students. Prof Chen also visited representatives of the Institute of Internal Auditors of South Africa [IIA(SA)], the Ethics Institute of South Africa (EthicSA) and the Southern African Institute of Government Auditors (SAIGA). Apart from working, she also enjoyed visits to Lesedi Cultural Village in the Hartbeespoort area and the Cullinan diamond mine. Prof Chen’s area of specialisation is economic accountability audits. This is a unique type of audit performed in China to assess the fairness of the economic decisions taken by the leaders of state-owned organisations during their terms of office.

In her presentation, Prof Chen highlighted the purpose of an economic accountability audit is to “…assess the enterprise’s truth, legality and the performance of the assets, liabilities and equities, the relevant economic activities about significant operational decisions, as well as the conditions abiding by the relevant regulations and laws, following the processes, approaches and requirements regulated by the nation or organisation.” She discussed several interesting cases relating to economic accountability audits, for example the case in 2003 when the Chinese National Audit Office (CNAO) conducted economic accountability audits of the leadership teams of several organisations in China. One such audit exposed significant losses of 7,84 billion yuan due to ineffective decision-making by the leadership team of an organisation. These leaders were subsequently found guilty of criminal offences and jailed.

Cooperation between the two IAEP programmes is of strategic importance to both institutions. UP lecturers will visit NAU in October 2011 and UP students will join the NAU IAEP programme from September 2012 to January 2013. UP and NAU are looking forward to a long-term working relationship through the IIA’s IAEP initiative with the common goal of developing competent internal auditors for the profession.

Published by Erhardt Maritz

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