{"id":8604,"date":"2022-03-14T15:46:34","date_gmt":"2022-03-14T12:46:34","guid":{"rendered":"https:\/\/www.gainsuranceltd.com\/ke\/?p=8604"},"modified":"2022-03-14T16:30:21","modified_gmt":"2022-03-14T13:30:21","slug":"meet-anne-kamoni-who-is-breaking-the-bias-in-the-audit-practice","status":"publish","type":"post","link":"https:\/\/www.gainsuranceltd.com\/ke\/meet-anne-kamoni-who-is-breaking-the-bias-in-the-audit-practice\/","title":{"rendered":"MEET ANNE KAMONI WHO IS BREAKING THE BIAS IN THE AUDIT PRACTICE"},"content":{"rendered":"

GA Insurance: Describe yourself in 5 words or less.<\/strong><\/p>\n

Passionate, Attention to detail, honest \u2013 too honest.<\/p>\n

GA Insurance:<\/strong>\u00a0Tell our readers about who you are and what you do.<\/strong><\/p>\n

My name is Wacuka Kamoni. I head the Internal Audit Department at GA Insurance.<\/p>\n

GA Insurance:\u00a0Tell us about your background. Where did you grow up? How was the culture where you grew up and how did it impact your education and career?\u00a0Were you necessarily encouraged to pursue the same \u2013 did family support?<\/strong><\/p>\n

I grew up in Eastlands in Nairobi. Eastlands is just, well Eastlands. Close-knit neighborhoods and always buzzing with activity. Eastlands is the heartbeat of Nairobi and this is where I grew up, speaking sheng and waiting for the hottest matatu when going to college. My parents were strict when it came to education \u2013 my father always said, \u201c I don\u2019t have large acres of land to subdivide amongst the 4 of you but I will do my best to educate you because that\u2019s the only inheritance can give you\u201d. And so, I excelled in academics from when I was very young in Primary School. I really wanted to be a doctor but clearly, things turned out very differently when I didn\u2019t make the cut for Medical School by one point.<\/p>\n

GA Insurance:<\/strong>\u00a0What University did you go to? What was it like and what did you study?<\/strong><\/p>\n

I went to The University of Nairobi and studied Bachelor of Commerce, Finance Option. My 4 years at the University were the best. Finally, there was no parent hovering over my shoulder but nonetheless, with so much freedom, I still ended up spending so much time in the library reading that I even had a spot on the upper floor of the library.<\/p>\n

GA Insurance:\u00a0Tell our readers about your first job before and after university. Where did you start your career?<\/strong><\/p>\n

My first real job was at Standard Chartered Bank as back-office support in the Trade Services Department. My work was clerical and involved putting together import and export documentation for key clients at SCB.<\/p>\n

GA Insurance: What are your greatest takeaways from working for Standard Chartered Bank?\u00a0<\/strong><\/p>\n

My greatest take away from this and which has stayed with me and helped me to excel is always put in your best no matter what level you are at in the organization and then think about your next level and work like you are already at that level.<\/p>\n

GA Insurance:\u00a0How did your career in Audit begin?<\/strong><\/p>\n

While working at\u00a0Standard Chartered Bank, Deloitte & Touch\u00e9 announced the recruitment of an auditor at entry level position, and I put in my application. I was called for the interviews and after 4 levels of interviews, I got the call that I had gotten the job as Audit assistant 3. To say I was elated is an understatement. That was my second attempt at joining the firm \u2013 one of the big 4. Just to encourage someone out there, don\u2019t give up. Keep on trying for that dream.<\/p>\n

And so began my journey as an Auditor \u2013 In External Audit, then Internal Audit.<\/p>\n

I left Deloitte after 4 years and took up my first role in Internal Audit at Jubilee Insurance Company where I stayed for almost 6 years and rose to the position of Senior Internal Auditor.<\/p>\n

GA Insurance:<\/strong>\u00a0Tell us more about your\u00a0career, before joining GA Insurance<\/strong><\/p>\n

Being an external auditor was the best and most valuable experience, as it exposed me to all kinds of organizations in different industries \u2013 Banking, Insurance, Agriculture, Manufacturing, Saccos, Pension Schemes, etc. This became the building block to my career as an auditor, more so an internal Auditor as I got an in-depth and first-hand understanding of how organizations operate and especially how poor management decisions and lack of controls can affect a Company\u2019s performance and the negative impact these have on its long-term survival.<\/p>\n

GA Insurance:<\/strong>\u00a0How did you end up at GA Insurance and how long have you been here?<\/strong><\/p>\n

GA was looking for an Internal Audit Manager, I sent my CV and was called for an interview. One month later I got a call to come for further negotiations on the role and that is how I was appointed as the Internal Audit Manager. This was back in 2015.<\/p>\n

GA Insurance:<\/strong>\u00a0When did you know that\u00a0insurance\u00a0was a passion of yours? What steps did you take to pursue it?\u00a0What really helped you get your foot in the door?<\/strong><\/p>\n

Interesting question. When I joined Deloitte, one of my first assignments was as part of the team auditing Lion of Kenya as it was called back then and thereafter, I found myself on insurance company audit engagements. This gave me invaluable exposure into the operations of insurance companies including up-to the reporting stage as an Audit Senior. It was therefore natural that my next career move was into Insurance as I easily understood the intricate workings of an Insurance Company.<\/p>\n

I chose to pursue internal audit rather than finance perhaps because the first opportunity that opened up was in internal audit. I had always thought I would transit into finance like most of my peers but it was not to be. Nevertheless, I have grown passionate about this role over the years and I believe it also gels with my personality.<\/p>\n

GA Insurance:\u00a0What are some things that you do\u00a0or\u00a0strategies that you use to constantly push yourself to the next level?\u00a0How do you continuously\u00a0set yourself up for success as\u00a0you continue to grow?<\/strong><\/p>\n

I keep abreast with developments in my profession through the Institute of Internal Auditors (IIA), Professional forums and workshops inorder to challenge myself and grow in the profession.<\/p>\n

I believe that first impressions matter. In internal Audit, the first interaction for stakeholders is the audit report before they engage me in person. Therefore, I strive for excellence in my work and reports.<\/p>\n

GA Insurance:\u00a0How do you approach setting and executing goals?\u00a0Walk us through that process<\/strong><\/p>\n

For my work, I set work goals on a quarterly basis to ensure I meet my deliverables to the Board.<\/p>\n

Professionally, since the world is changing and new challenges\/regulations etc are always coming up, I strive to remain connected to professional bodies that govern audit and accounting to remain well informed and to know when and where to upskill.<\/p>\n

Personally, like everyone else I set goals at the beginning of the year. Some, I achieve others I reset for next year but that is on a lighter note. What is key, when I need to achieve something, I write down the goal\/target and then I break it down to small achievable goals so that I am able to measure progress.<\/p>\n

GA Insurance:\u00a0What is your Leadership Style, and has it evolved over the years?<\/strong><\/p>\n

As a young external auditor, I got to experience and observe many leadership styles in many audit engagements. Some were great, others not so much. My learning from all these experiences is that a leader needs to be versatile and adopt to each unique situation rather than adopt a rigid leadership style that may end up stifling team members especially where the environment changes rapidly or creative out of the box thinking is required.<\/p>\n

I therefore read the situation first then I decide how to lead. In some situations, I will lead from the front \u2013 where I give direction and instructions. In others, I will lead from the back where I just guide the individual members on how to accomplish the tasks and allow them to take the lead on their individual assignments.<\/p>\n

GA Insurance:<\/strong>\u00a0In your capacity, you have interviewed countless people in your career, what qualities do you look out for during interviews?<\/strong><\/p>\n

Analytical minds, attention to detail, inquisitive minds, great interpersonal skills, negotiating and problem-solving skills.<\/p>\n

These are the key ingredients that make a great internal auditor.<\/p>\n

GA Insurance:<\/strong>\u00a0What are your biggest sources of motivation?<\/strong><\/p>\n

Knowing that I am in a position that gives me the opportunity to make a positive change in the organization.<\/p>\n

GA Insurance:\u00a0What are some of the highlights in your 15+ Audit career?<\/strong><\/p>\n

Seeing the shift in management thinking where the Internal Audit is seen as a valuable business partner rather than the bad cop.<\/p>\n

Across the globe internal auditors are now getting a seat at the table with business leaders and they are giving invaluable insights to strategies and wealth preservation by highlighting risks that may prevent orgs from achieving their objectives.<\/p>\n

Internal Audit has now been recognized as being critical to an organization achieving its targets as opposed to before where internal auditors were expected to merely validate transactions.<\/p>\n

GA Insurance<\/strong>:<\/strong>\u00a0During this journey of growing\u00a0into the phenomenal woman you are today,\u00a0what would you say has been the most challenging aspect and what did you learn from it?<\/strong><\/p>\n

I have\u00a0encountered\u00a0the imposter Syndrome especially when I was first promoted to Internal Audit Manager position that required presentation of audit report to the BAC. Boards are composed of highly achieved individuals and can be intimidating especially when you are interacting with the Directors for the first time.<\/p>\n

I overcame this feeling by constantly reminding myself that I had gotten here by merit and I was capable of the task.<\/p>\n

GA Insurance:\u00a0In your career, are there moments where\u00a0you ever found that your personal values conflicted with your client goals?\u00a0<\/strong><\/p>\n

Not in GA, but I have had experiences where the person in charge watered down significant observations under pressure from the auditee. I didn\u2019t like it since the risk was inadequately reported and when it crystallized, there was always the question of where was the internal audit?<\/p>\n

GA Insurance:<\/strong>\u00a0Do you have values that you abide by? Values that are irreducible minimums, for you?<\/strong><\/p>\n

Honesty, Integrity, Due diligence in fulfilling my mandate as an internal auditor. I ensure that my conclusions are supported by facts based on work done which must be sufficient.<\/p>\n

GA Insurance:<\/strong>\u00a0What\u2019s it like maintaining a successful\u00a0an Internal Audit function\u00a0and client satisfaction, while keeping your personal happiness above ground?<\/strong><\/p>\n

For all audits, I ensure that the audit client is aware of the audit scope and observations and we give them an opportunity to respond and produce supporting evidence where they are of a contrary opinion. All observations are agreed upon with management as being the correct state of the control environment at time of audit and a corrective action plan agreed upon.<\/p>\n

Audit exit meetings can get very heated but I always strive to seek out the individuals and assure them that its for the good of the Company and the Business Units they manage as well as themselves as the Managers.<\/p>\n

GA Insurance:<\/strong>\u00a0Can you share one personal and one professional goal for the year?<\/strong><\/p>\n

Personal \u2013 To lose 10kgs (this is the goal I reset every year).<\/p>\n

Professional \u2013 To get to a level where I can also train\/instruct internal auditors in workshops conducted by the IIA.<\/p>\n

GA Insurance:<\/strong>\u00a0These critical and unprecedented times really shifted how we work and think.\u00a0Physical meetings\u00a0have come to a halt. Many\u00a0operations\u00a0have gone virtual.\u00a0What are some things you are doing\u00a0at the company and at a personal level\u00a0to adapt to this new way of living?<\/strong><\/p>\n

Audit involves examination of documents, interviewing people, observation e.t.c inorder to gather sufficient evidence to draw a factual conclusion on the control environment. The pandemic therefore threw the entire audit profession across the globe into a spin and auditors had to think outside the box to ensure they continue giving assurance to stakeholders on risk management and controls.<\/p>\n

The Internal Audit department at GA has learnt to become agile and embrace technology inorder to adopt to the new way of working even though this has been challenging as many processes were and are still very manual. However, we have managed to make technology work for us where processes are automated. We incorporated online meetings with auditees, SharePoint e.t.c as part of the audit process.<\/p>\n

GA Insurance:<\/strong>\u00a0What are some tips that you have for other\u00a0women, whether in their careers or businesses,\u00a0regardless of their field for adapting to this new world that we\u2019re in?\u00a0<\/strong><\/p>\n

Strive for excellence. Believe in yourself and that you are capable. Evaluate your worth and put a value on it because no-one will ever value you higher that you value yourself. Do not settle for less than your value.<\/p>\n

GA Insurance:\u00a0At\u00a0GA Insurance\u00a0we focus and celebrate ambitious women. In your opinion, what makes an ambitious woman?<\/strong><\/p>\n

One who does not settle in a comfort zone but seeks to better herself, to challenge traditional limits on women. Break that glass ceiling.<\/p>\n

GA Insurance:\u00a0How often do you say no and what has been your journey to saying it unapologetically?<\/strong><\/p>\n

Ha ha ha. An auditor, every auditor has to say no very many times in their careers to auditees when it comes to audit reporting.<\/p>\n

When the situation cannot be reported in any other way (res ipsor loqiutur), I just say no and close the argument. In other situations, I explain why my answer is no and support this with facts.<\/p>\n

GA Insurance:<\/strong>\u00a0Have you experienced rejection in your\u00a0audit recommendations\u00a0etc? How do you handle\u00a0it and\u00a0what\u2019s your advice for young, upcoming\u00a0women who want to be like you<\/strong><\/p>\n

Yes, I have, and I have noted that people resist because sometimes they want the status quo to remain, or they don\u2019t want to leave their comfort zones because a new control or new way of doing things may mean loss of control or authority which might or might not be the case.<\/p>\n

My philosophy on these kinds of situations is that change is difficult for many people therefore I put in my best pitch for audit recommendations and where I fail to convince my audience, I go back to the drawing board to redraft or accept I can pitch my recommendation another day.<\/p>\n

GA Insurance:<\/strong>\u00a0What are you most proud of about yourself both personally and professionally?\u00a0(highlights)<\/strong><\/p>\n