TADB encourages auditors to improve governance, tech knowledge

By Guardian Reporter , The Guardian
Published at 06:52 PM Apr 17 2024
Joyce Maduhu, the Head of Internal Auditors at TADB.
Photo: Guardian Correspondent
Joyce Maduhu, the Head of Internal Auditors at TADB.

The Tanzania Agricultural Development Bank (TADB) has urged internal auditors from diverse institutions in the country to actively engage in forums to enhance their knowledge of governance and technology impacting the internal audit field.

During the 10th African Federation of Institute of Internal Auditors (AFIIA) forum in Arusha, Joyce Maduhu, the Head of Internal Auditors at TADB, made a noteworthy remark yesterday.

She stressed the significance of internal auditors staying up-to-date and continually honing their skills to effectively carry out their duties and meet their responsibilities.

The two-day forum is hosted by Institute of Internal Auditors (IIA) Tanzania, bringing together a diverse group of participants including board members, audit committee members, chief executive officers, senior management, and chief audit executives.

"I am dedicated to advancing the internal audit profession within our country. By actively engaging and encouraging internal auditors to participate in a range of forums, we can enhance their knowledge of governance and technology, ultimately strengthening the profession," she emphasized.

In particular, she stated that the financial institution actively participates in the forum to enhance the effectiveness of internal audit systems, ensuring the continued provision of quality services to customers.

Providing insight into the forum, President of the IIA; Dr Zelia Njeza mentioned that approximately 350 participants from 27 countries, both within and outside the African continent, took part in the event.

Dr Njeza also noted that around 1000 Internal Auditors appeared this year's forum, which focused on the theme 'Beyond Boundaries Make a Difference,' emphasizing the importance of breaking barriers and surpassing expectations to create a positive impact.

Furthermore, she highlighted the forum's encouragement of innovative thinking and action beyond traditional limitations.

On the other hand, TADB signed a new agreement with the Tanzania Commercial Bank (TCB) to enhance credit guarantees for small-scale farmers through the Smallholder Farmers Credit Guarantee Scheme (SCGS).

According to TADB, the new five-year partnership with TCB, worth Sh21bn/-, signifies a significant increase from the previous Sh7bn/- allocation in 2018 for providing credit guarantees to smallholder farmers.

Speaking to Journalists in Dar es Salaam, TADB Managing Director, Frank Nyabundege said the agreement implemented through the SCGS would double the accessibility of loans among smallholder farmers unlike before.