Corporate Connect Series | IT and Audit Controls

February 24, 2021: The IBA CDC in collaboration with the IBA Faculty Member, Dr. Shakeel Khoja invited Head of Audit department, Pakistan Security Printing Corporation (PSPC), Mr. Attaullah Memon was invited to lead a guest speaker session at the IBA Karachi.

The theme of the session was Audit, Ethics, and IS issues. The session commenced with a brief introduction and background of the guest speaker. Mr. Attaullah is currently the Head of the Audit department at Pakistan Security Printing Corporation (PSPC). The institution is a subsidiary of the State Bank of Pakistan and is essentially responsible for printing out currency and other important documents. Mr. Attaullah was inducted by the SBP in 2005. Currently, he is a control auditor and head of the audit department.

Mr. Attaullah emphasized the importance of IT in the banking sector and in general, in the financial institutions of Pakistan. As the years have passed, there has been a massive shift in the working practices of auditors. He elaborated on the importance of the field of data sciences which is quickly becoming the need of the hour in the corporate and government sector. "The blockchain technology is emerging big time," said Mr. Attaullah. Therefore, he urged the students to not just stick to their respective majors but to expand their avenues.

He also shed light on the misconception and stereotype that exists in the minds of the general masses regarding auditors. People generally presume that an auditor is a strict, overly critical individual who would come and police everyone. An auditor or head of the audit has to be "the eyes and ears of an organisation." He plays a vital role in the sustainability of any organisation and he has to make many decisions that impact the well-being of that organisation. He needs to assist in other organisational departments as well to make his place in the organisation. He shared an example of himself when he helped the IT department of PSPC even though that wasn't part of his job description. Moreover, an auditor strictly needs to be impartial in his dealings. In this, he talked about the ISACA standards and guidelines. An auditor cannot take sides and so, strong ethics is a vital segment of becoming a good auditor.

It was an interactive session as students expressed their thoughts with the speaker and he was effectively able to clear all their confusions.