Malawi’s auditing authority, the Institute of Internal Auditors in Malawi (IIAM) has named TNM Plc as Malawi’s Internal Audit Awareness Champion for the year 2023.
The inaugural championship award was presented to TNM during the recent IIAM’s lakeshore conference in Mangochi.
IIAM Chief Executive Officer Albert Dambula said the award is in recognition of TNM’s contribution towards development of the internal audit profession in the country.
“The month of May is International Internal Audit Awareness Month where apart from activities carried out by the institute, member organizations are encouraged to promote development of the audit profession. TNM emerged a winner after implementing great awareness initiatives promoting good governance processes in their institution,” he said, adding the telco beat other organizations to the score.
Receiving the award, TNM’s Head of Internal Audit department Ackson Banda described the recognition as a great motivation.
“During the month of May, TNM in collaboration with the internal audit department implemented outstanding series of awareness initiatives both internal and external. While our initial efforts did not target an award, the recognition is a plus and gives us extra impetus to do more next year during the awareness month,” said Banda.
Banda said that the awareness campaign created a great platform for TNM staff to appreciate the role of auditors in the company.
He noted that the recognition adds great value towards TNM’s reputation in adherence to corporate governance requirements as a listed company.
“The award goes beyond recognizing our role in improving governance issues but enhance trust in our various stakeholders who will feel comfortable to make transactions with the Malawi’s best 4G and only 5G network,” he said.
Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organization’s operations.
It involves identifying the risks that could keep an organization from achieving its goals, making sure the organization’s leaders know about these risks, and proactively recommending improvements to help reduce the risks.