PSASB, IIA KENYA LAUNCH INTERNAL AUDIT AND RISK AWARDS 2025 TO PROMOTE COMPLIANCE AND EXCELLENCE.

BY WILSON AMONDO. 
Nairobi, Kenya – March 2025

The Public Sector Accounting Standards Board (PSASB) and the Institute of Internal Auditors (IIA) Kenya have unveiled the Internal Audit and Risk Awards 2025, an initiative aimed at recognizing excellence in internal audit and risk management within the public sector. The awards, launched in Nairobi, will culminate in a grand ceremony next month.

The launch comes at a pivotal moment following the implementation of the Global Internal Audit Standards (GIAS) on January 9, 2025. The event aligns with Kenya’s Zero Fault Audit (ZFA) Campaign, a government initiative aimed at reinforcing good governance, accountability, and transparency in public, private, and NGO sectors.

Speaking at the launch, PSASB Chief Executive Officer Georgina Muchai emphasized the importance of internal auditors adapting to evolving standards. “As internal audit standards evolve, auditors must stay informed and embrace these changes to ensure their practices remain aligned with industry standards and best practices,” said Muchai.

The Nairobi Securities Exchange (NSE) CEO, Frank Mwiti, who was the chief guest, urged internal auditors to play a more proactive role in their organizations. “As implementers of standards, internal auditors should stop hiding behind independence. They should be true partners and use their soft skills to navigate complex challenges,” Mwiti said.

Strengthening Internal Audit Through Training and Technology

IIA Kenya and PSASB plan to roll out sensitization forums to equip public sector auditors with a deeper understanding of the newly introduced GIAS. These forums will offer insights into compliance requirements and emerging trends in internal auditing, including the increasing use of technology.

IIA Kenya Chairman, Leonard Okoth, highlighted how technological advancements are reshaping internal auditing. “Today, internal auditors are leveraging big data and real-time analytics to conduct more proactive audits. With rising cyber threats, auditors are increasingly focusing on cyber risk management and IT governance,” Okoth noted.

As organizations navigate Environmental, Social, and Governance (ESG) challenges, internal auditors are expected to play a more strategic role in ensuring compliance and fostering sustainable growth.

The Internal Audit and Risk Awards 2025 seek to celebrate professionals who excel in risk management, uphold ethical standards, and drive transformation in internal audit practices. The initiative is expected to set a new benchmark for compliance and governance in Kenya’s public and private sectors.


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