I would like to bring this to the conversation since the area of accountability, transparency and governance has been at the forefront of the elections. It would be ideal to have a third-party external audit conduct a proper assurance assessment on NEM to ensure that all our documentation and process flows are well-organised. This could attract more projects with the confidence to build on NEM because of an independent audit.
Apart from that, there should also be an internal audit team to ensure that country and regional offices have a safeguard in the spending and allocation of resources.
Here are examples that have been observed:
Are audits an essential part of governance? if so what kind of audit is important? when is a good time to do an audit?
FYI - by-laws mentioned to have an audit of the correctness of the profit and loss account and balance sheet.
Once at least in every year the accounts of the Company shall be examined, and the correctness of the profit and loss account and balance sheet ascertained by one or more auditor or auditors, and the provisions of the Act and any modification or re-enactment thereof forthe time being in force in regard to audit and auditors shall be observed.
Open to thoughts and discussion.