A Deloitte study assessing the maturity of the internal audit function in Angolan banking indicates that 62% of banking institutions do not have continuous and remote audit procedures.
The report also points out that 70% of banks have not yet carried out audits under Directive No. 11/DSB/DRO/2021, referring to the Business Continuity Plan.
However, it notes that 92% of management teams prepare the Audit Plan based on a risk assessment, despite several opportunities for improvement being identified in this area.
Deloitte analysts believe that the evolution of the Angolan banking sector requires increasingly robust Internal Audit Functions (IAF) that are aligned with international best practices.
“They must also take on a strategic role in banks, not only as a control mechanism, but as creators of value and trust. We are convinced that this work will be a starting point for initiatives that strengthen the credibility of the Angolan financial system and consolidate the trust of its stakeholders,” the document reads.
The study shows that there is still room for technological evolution in internal auditing. The introduction of dedicated support systems, combined with the systematic use of data analytics, the document argues, can transform the audit model, enabling continuous and remote audits, automated monitoring, and greater efficiency in the execution of the audit plan.
According to José Barata, country managing partner at Deloitte Angola, this study reaffirms Deloitte’s commitment to Angola and its contribution to the institutional strengthening and governance of the national financial system.
“We intend to continue supporting banking financial institutions in building strong, independent internal audit functions that are aligned with international standards, thereby contributing to a more solid and reliable financial sector,” he said.
Source: Forbes África Lusofona
