Entrepreneurs challenged on internal audits

In a bid to empower entrepreneurs with skills to effectively manage their businesses, the Institute of Certified Public Accountants of Rwanda (ICPAR) yesterday launched a training programme, which focuses on departments charged with decision making in business. According to Peter Rutaremara, the president of ICPAR, the programme aims at improving skills in financial management, IT systems and audit as well as risk management.

In a bid to empower entrepreneurs with skills to effectively manage their businesses, the Institute of Certified Public Accountants of Rwanda (ICPAR) yesterday launched a training programme, which focuses on departments charged with decision making in business.

According to Peter Rutaremara, the president of ICPAR, the programme aims at improving skills in financial management, IT systems and audit as well as risk management.

“The current business environment is tight based on competition but most operators in the private sector ignore certain departments that even determine the existence or life span of their businesses,” Ruteramara said during a recent workshop.

He added that:  “Coming up with risk management policies or committees will help in the identification of risks that have proved to be the main reason of the collapse of many businesses.”

George Mangoka, Internal Audit Advisor in the Ministry of Finance said that: “In any type of business at one point, risks will be taken and the most challenging is identification that makes the relevance of putting in place a team specifically to address the issue.”

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