Central banks in the East African Community (EAC) are convening for the 11th Central Banks Internal Audit Conference in South Sudan to discuss data governance, digital maturity, and strengthening governance, risk, and compliance frameworks.
This comes as banks across the EAC are experiencing digital transformation.
Delegates from Burundi, the Democratic Republic of the Congo, Kenya, Rwanda, Somalia, Tanzania, and Uganda are gathered for the five-day session, which began on Monday.
The conference's theme is "Reimagining Internal Audit in the Digital Era to Drive Transformation."
Johnny Ohisa Damian, governor of the Bank of South Sudan (BoSS), emphasised the growing significance of internal auditing in the digital age, noting that internal audit functions must evolve to provide insights that support innovation and strengthen digital systems.
“The conference provides a platform for sharing experiences aimed at enhancing digital governance and financial integration, boosting public trust and supporting sustainable economic growth,” he said.
Abraham Dut Malek, BoSS director of the Internal Audit Department, encouraged EAC member states to cooperate and urged internal auditors to take a proactive role in improving regional institutional frameworks.
The EAC, founded in 1967, is a bloc focused at broadening and deepening cooperation among member states in areas such as politics, economics, and social development.
The EAC framework facilitates cooperation among regional central banks, with a focus on integrating payment systems, harmonising financial regulations, and moving towards a monetary union.
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