Audit - Looking out for each other part 2

All medium to large corporations are faced with the agency problem which arises from the divorce between ownership and control of the enterprise, In such, shareholders place great reliance on audit as the third line of defense to reduce risk.  

As much as audit is responsible for safeguarding the shareholder’s wealth maximization goal; audit fully takes the responsibility to ‘look-out’ and protect each and every employee’s job, This is done through, among other things, ensuring that no individual engages in self-serving interests at the expense of the enterprise and the greater majority (that is) all other employees of the organization.

Therefore, one can have peace knowing that audit is looking out for your wellbeing but it is proven that audit on their own cannot always detect and eradicate 100% of all violations, noncompliance and failures. Select PPE; like any other company that values integrity has an ethics hotline that any stakeholder can direct or report their concerns, grievances, non-compliance and failures to, this can be done through sending an email to the C.E.Os ethics mailbox, everything sent to such is treated with confidentiality.

Please do use it and lets all look out for each other.


There are no comments for this article