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Auditors drilled in lifestyle audit

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The Institute of Internal Auditors (IIA) has urged internal auditors in the private and public sectors to be on top of their game and be able to detect sudden changes in lifestyles of workers which is not in tandem with their take-home packages.

IIA former board member Norton Lewanika was speaking at the end of a lifestyle audit workshop organised by IIA in Lilongwe on Monday.

Lewanika said a sudden change in lifestyle, which is not commensurate with the person’s income, could be an indicator of fraud and corruption.

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He said it was worrying to note that many people entrusted to manage public or company resources have ended up enriching themselves at the expense of the public.

“It is very hard to hide a sudden accumulation of wealth. Sooner or later, it does surface. When we see people that suddenly become very wealthy millionaires or billionaires and the wealth does not match their known sources of income, either from business or employment, that is an indication.

“It is not that we conclude there and then, but it helps to give the auditors some indicators or somewhere to start from in their investigations,” Lewanika said.

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The two-day training took the auditors through the overview of lifestyle audit, the methodologies and the legal framework.

One of the participants, Blessings Sineta, who works with National Planning Commission, said the training had helped her know the red flags in lifestyle auditing.

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