Monrovia, Liberia – The Internal Audit Agency (IAA) has concluded participation in a regional course
on” Enhancing Risk-Based Auditing and Risk Management, through Generative
Artificial Intelligence”.
The training program was organized by the West African Institute for Financial and Economic Management (WAIFEM), held from May 26 – 30, 2025, at the Central Bank of Nigeria Learning Center, Lagos, Nigeria.
IAA’s delegation, led by the Executive Director for Special Audits, Jarwo N. Cooper, participated and discussed the following topics:
Introduction to Generative AI in Risk-Based Auditing, AI-Powered Risk-Based Auditing Technique, Regulatory and Ethical Considerations.
Others included: AI Risk Management Frameworks and Mitigation Strategies, and Implementation and Future Trends, among others.
Those topics were facilitated by highly skilled and experienced professionals, including Dr. Benson Uwheru, Mr. Oladele Adeoye, and Dr. Wenceslaus Nwoga of DataPro Limited, ensuring meaningful engagement for participants.
The key focus of the five-day training program, was intended to introduce participants to the fundamentals of Generative AI and its application in risk management and risk-based auditing, provide hands-on experience with AI-driven auditing tools and techniques, explore
regulatory, ethical, and governance considerations in AI integration and to build participants’ capacity to identify, assess, and mitigate AI-related risks.
The delegation described the training program as essential and will enhance efficiency and timely reporting at the IAA.
After acquiring knowledge on how to use Generative Artificial Intelligence to audit, the participants will be required to introduce the following activities at the IAA.
They are: To Establish governance and oversight of AI activities, develop and implement AI policy, align AI with the Risk-Based Audit Strategy and to Integrate AI with continuous auditing, among others.
WAIFEM was established by the central banks of The Gambia, Ghana, Liberia, Nigeria, and Sierra Leone in 1996, with the primary aim of building capacity for improved macroeconomic and financial management in the constituent member countries.
In a related development, another employee of the IAA, was also part of a delegation from Liberia, that participated in a week- long training program on Fiscal Decentralization and Local Management in Liberia, held from May 19- 26, 2025, at the University of Ibadan Post Graduate College
in Nigeria.
The training was sponsored by the Ministry of Finance and Development Planning.
Topics covered at the training, ranged from the principles of local government, financial management, financial reporting and accountability, accountability mechanisms in local government, transparency and citizens engagement.
Others included: revenue management and administration, decentralization in Liberia current situation and budgeting principles and processes, among others.
The key focus of the training, is to enhance the capacity of government officials at both central and local levels, in line with the ongoing implementation of the country’s local government law.
Participants are expected to utilize knowledge gained, to go into the various counties to train local officials on revenue sharing regulations and fiscal decentralization.
The delegation was led by Dr. Romeo Gbatea, Director for Fiscal Decentralization at the Ministry of Finance and Development Planning.
The delegation comprised: The Comptroller and Accounting General of Liberia, Hon. Elwood T. Netty, Deputy Finance Minister for Fiscal Affairs, Hon. Anthony Myers, Deputy Internal Affairs Minister for Operations, Hon. Selena Mappy and Four (4) Superintendents from Grand Bassa, Margibi, Bong and
Nimba Counties.
Also, part of the delegation were representatives from IAA, PPCC and LRA.
