Internal Control and Audit Training

As part of NICE’s human resource development plan, NICE organized a training titled “Internal Control and Audit” to its Internal Auditors Team as well as other staff members totaling to 12 participants from 20th October to 2nd November 2020.

The main objective of this training was to equip the Internal Control and Audit team and all participants with a detailed understanding on the procedures and processes of Internal Control and Audit in relation to insurance corporations. As a result, special focus was made on ensuring: -

  • Effective and Efficient Operations,
  • Reliable Financial Reports, and
  • Compliance with Laws and Regulations.

The emphasis of the training was to interrelate the role of Internal Control and Audit in keeping the core values of NICE, which are professionalism, integrity, transparency, and quality service, by well-designed and articulated Internal Control and Audit procedures. Since Internal Control and Audit are areas that require expertise and professionalism, it is believed that this training equipped the members of the audit team and other participants with fundamental knowledge and qualification that could assist them in pursuing the task properly so as the Internal Control and Audit would be complete and accurate.

The training was entirely conducted by Mr. Eyob Tesfahunei who covered all the topics except a day’s portion regarding compliance, laws and regulations which was taken by Mr. Alexander Zemicael who was also the coordinator of the training. The training was also observed by Mr. Yemane Araya from the Audit Services Corporation who also helped in framing the outline of the overall training and Mr. Abraha Tuccu who is the current member of the Board Risk, Audit and Compliance Committee of the Board of NICE.

The training included many relevant videos that made the classes more interesting and the subjects matter clear. Participation of Mr. Yemane and Mr. Abraha made the training more interesting and unique as they shared their rich experiences and challenged the class with eye opening questions and fresh insights.

Participants presented their given assignments with the help of slides on 9th November in the presence of Mr. Tuquabo (Administration Manager), Mr. Yemane, Mr. Abraha, and Mr. Alexander. Finally, certificates of participation were distributed to the trainees who fulfilled all the requirements that the course demanded.