Ouagadougou: Rimminimnoma Rasman Bagr, a Master 2 student in Accounting, Control and Auditing at the Burkinabe Institute of Arts and Crafts of Joseph Ki-Zerbo University, has put forward recommendations to boost the effectiveness of statutory audit missions in Burkina Faso by fostering collaboration between internal auditors and statutory auditors.

According to Burkina Information Agency, Bagr's thesis focuses on the strategic role of internal audit reports in optimizing auditors' missions. He argues that despite their ability to provide crucial insights into internal control mechanisms and risk management, these reports are often underutilized by statutory auditors, resulting in redundant work, heightened audit costs, and diminished efficiency.

Bagr's study involved a questionnaire survey of 40 audit and accounting professionals in Burkina Faso, supplemented by six semi-structured interviews with chartered accountants and auditors with varying levels of experience. The findings revealed that 87.5% of respondents acknowledged that internal audit reports aid in understanding the internal control of audited entities. Additionally, 85% believed these reports enhance internal control assessments, while 80% felt they improve risk identification.

However, the study identified several challenges hindering the use of internal audit reports. Notably, 87.5% of respondents cited inadequate skills among some internal auditors as a significant barrier, while 82.5% pointed to their lack of independence from management.

To address these issues, Bagr recommends enhancing the professionalization of the internal audit function through targeted training and certification of auditors. He further suggests bolstering auditor independence by linking the function to the board of directors or audit committee and formalizing communication between internal and external auditors in line with International Standard on Auditing 610.

Bagr asserts that improved synergy between internal and statutory audits could enhance the quality of financial information and organizational governance. He believes the research findings could be valuable to accounting firms, businesses, professional accounting organizations, and public authorities aiming to refine audit practices in Burkina Faso.