August 2010: Cowater Awarded Contract to Assist Government of Nigeria Modernize Internal Auditing
The Government of Nigeria, with funding from the World Bank, has awarded Cowater a contract to assist the Office of the Accountant-General of the Federation of Nigeria to professionalize and modernize the OAG’s internal audit function by: developing internal audit strategies; recommending a legal and governance structure required for a modern and independent internal audit function; providing an action plan for the adoption of international auditing standards; developing internal audit manuals; and providing training in Risk-Based Auditing and CAATs. The project involves the extensive use of pilot audits to validate methodologies and classroom training. This project follows recent reforms in the Government of Nigeria’s financial management systems under the Economic Reform and Governance Project and promotes a change in the role of internal audit to a more proactive one based on international standards and best practices. This latest contract award reaffirms Cowater’s world-wide reputation for excellence in public sector auditing.