Combined Assurance Model – A Tool Kit For Harmonizing Multiple Assurance Reports and Reinforcing Confidence and Trust On Internal Controls Over Financial Reporting.

Conclusion

Combined Assurance Model is increasingly gaining grounds and acceptance beyond South Africa due to the enormous benefits it provides. The impact of Covid-19 and lockdown events and current global economic hardships have reinforced the global awareness and considerations for the implementation globally.

In Nigeria, the current level of high insecurity across the country and the harsh economic conditions have built compelling business case for organisations in Nigeria to consider the adoption of combined assurance model. The legal and regulatory requirements by Investment and Securities Act (ISA) 2007, Company and Allied Matters Act (CAMA) 2020 and National Code of Corporate Governance (NCCG) 2018 mandating boards and officers signing the audited financial statement reports to certify internal controls and risk management effectiveness in the annual audited financial statement reports have reinforced the urgent call for actions by the organisations in Nigeria.

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To access my post on Internal Control Over Financial Reporting (ICFR) and other posts, please click https://www,sallyogwookeyumahi.com//blog/

Please, contact sally on contactus@platinumedgeconsultingltd.com or visit our website https://www.platinumedgeconsultingltd.com If you need more information on Corporate Governance Principles, Boards and Board Committees Effectiveness Tool Kits or need help to support your organisation provide solutions on the following:

• Board induction.
• Corporate governance framework design and implementation and post-implementation handholding support,
• Assessment of corporate governance framework, Board evaluation and Board Directors peer reviews for regulatory compliance.
• Training on how to design corporate governance framework and implementation, conduct assessment of corporate governance framework, Board evaluation and Board Directors peer reviews.

More information about sally:

Sally facilitates training on Risk governance and assurance for Company Board Directors, Executive Management and also Senior and Middle Level Managers aspiring to be Company Board Directors. Some of the organizations where Sally has facilitated training programs include: Lagos Business School (LBS), West African Institute for Financial and Economic Management (WAIFEM, established by Central Banks of The Gambia, Ghana, Liberia, Nigeria and Sierra Leone), The Institute of Directors (IOD) Nigeria, Nigeria Deposit Insurance Corporation (NDIC), Financial Institutions Training Centre (FITC), Chartered Institute of Bankers of Nigeria (CIBN), The Society for Corporate Governance Nigeria (SCGN), Microfinance Agricultural Learning & Development Centre (MLDC) , FirstBank of Nigeria, Access Bank PLC, Guaranty Trust Bank (GTB), Jaiz Bank, Daily Trust and Leadway Pensure PFA.

Sally authored the books on “Corporate Governance “and “Professional Conducts” for Bankers. The books have been adopted by the Chartered Institute of Bankers of Nigeria (CIBN) as Study Packs for the student members of the institute.

 Sally is widely travelled and have executed client projects for big and medium scale brands in many geographical locations including UK, USA, UAE, Netherlands, South Africa, Kenya, Zambia, Mauritius, Ghana, Togo, Sierra Leone, Zanzibar, Tanzania and Nigeria. Sally is an advocate for victims of cultural biases, domestic violence and abuse.