Internal Audit Agency Board Inaugurated to Drive Reforms in Ghana
Accra, Ghana – The Ministry of Finance has inaugurated a new nine-member Governing Board for the Internal Audit Agency (IAA) as part of efforts to strengthen public financial management, improve accountability, and reduce audit infractions across the public sector.
The newly constituted Board has been tasked with leading reforms aimed at enhancing compliance, strengthening risk management, and ensuring value-for-money auditing within state institutions.
Strengthening Accountability and Financial Oversight
Speaking at the inauguration ceremony, the Minister for Finance, Dr Cassiel Ato Forson, underscored the critical role of internal auditing in safeguarding public resources and rebuilding confidence in Ghana’s financial management systems.
He pointed out that many of the recurring irregularities captured in Auditor-General’s reports could be addressed through a more effective and responsive internal audit regime.
The Minister expressed concern about the level of waste within the public sector, stressing the need for decisive action to protect public funds and improve governance outcomes.
Key Reform Measures
The Board has been mandated to oversee several reform initiatives, including:
- Review of the Internal Audit Agency Act, 2003 to strengthen the Agency’s mandate
- Implementation of measures to improve compliance and internal controls
- Promotion of risk management practices across public institutions
- Advancement of value-for-money auditing
Dr Forson further called for strict accountability, indicating that internal auditors who fail to discharge their duties may face sanctions, including the possible withdrawal of professional licences.
Capacity Building and Institutional Reforms
The Minister emphasised the importance of continuous training and professional development to equip internal auditors with the skills required to perform effectively in an evolving governance environment.
As part of broader reforms, he also announced plans to establish an “Auditors’ Court” to strengthen oversight, enhance transparency, and promote accountability within the auditing profession.
Board’s Commitment
Responding on behalf of the Board, Chairman Professor Joshua Yindenaba Abor expressed appreciation for the confidence reposed in members and pledged their commitment to promoting transparency and prudent management of public resources.
He described the appointment as a call to national service and assured that the Board would work diligently to support the Agency’s mandate and contribute to improved governance outcomes.
Outlook
The inauguration of the new Governing Board is expected to reinforce Ghana’s drive towards stronger fiscal discipline, improved accountability, and enhanced public sector performance.
The success of the reforms, according to the Ministry, will ultimately be reflected in improved audit outcomes and a reduction in financial irregularities across public institutions.