The Importance of Auditing and Accounting for the Future: Minister Ronald Lamola’s Keynote Address at SAIGA Conference

Minister Ronald Lamola delivered a compelling keynote address at the 3rd South African Institute of Government Auditors Annual Conference on September 14, 2023. The event aimed to spark meaningful discussions around the crucial role of auditors in society and promote the foundational principles and ethos of the South African Institute of Government Auditors (SAIGA).

Emphasizing the Importance of Transparency and Accountability

Minister Lamola emphasized the importance of administering justice in a fair and cost-effective manner for the benefit of citizens. He urged participants to consider the long-term implications of their work and contribute to a brighter and more equitable future for all. With transparency and accountability as foundational principles, auditors can play a significant role in promoting trust in public institutions.

Advancing Auditing and Accounting for the Citizen and the Future

Under the theme “Advancing Auditing and Accounting for the Citizen and the Future,” the conference aimed to gather industry leaders and experts in an environment conducive to learning and networking. Attendees sought valuable insights and discussed innovative ways to advance the profession, particularly in light of technological advancements.

Adapting to Technological Advancements

The conference emphasized the need for the auditing and accounting sectors to adapt to technological advancements, such as artificial intelligence and data analytics. The integration of advanced tools can enhance the accuracy and efficiency of these processes, ensuring the protection of public resources and the effective allocation of these resources for the benefit of all citizens.

Fighting Against Corruption and Financial Malfeasance

Auditors have a unique position in identifying and combating corruption and financial malfeasance. By promoting transparency, honesty, and accountability, auditors can effectively protect public resources and ensure that they are used for the benefit of all citizens.

Fostering Collaboration Between Private and Public Sectors

The conference highlighted the importance of fostering strong relationships between the private and public sectors. Collaboration can lead to more effective resource allocation and increased trust in government institutions. Additionally, involvement from academic institutions enriches the exchange of ideas and the development of best practices within the field.

Continuous Professional Development

The conference also addressed the need for continuous professional development. This includes not only technical skills but also the cultivation of ethical standards and commitment to the public interest. By nurturing these qualities, auditors can uphold the integrity of their profession and fulfill their crucial societal role.

Building a Better Future for All

The meticulous scrutiny of public finances can directly contribute to improvements in infrastructure, healthcare, education, and other vital services. As such, the conference reaffirmed the significance of rigorous auditing and accounting practices in building a better future for all citizens.

Minister Ronald Lamola’s keynote address at the SAIGA Conference served as a powerful reminder about the essential role auditors play in promoting transparency, accountability, and trust in public institutions. By adhering to their principles and ethos, auditors can significantly contribute to the welfare and prosperity of citizens and the nation as a whole.