Audit Infractions Reduced By 32%

Justice Nana Barima Yaw Kodie Oppong (4th left) with some members of IAA board at the conference

Audit infractions reduced by 32.5% translating into over GH¢5 billion in savings to the state according to the Auditor General’s report.

The Director General of the Internal Audit Agency (IAA), Dr. Eric Oduro Osae, who disclosed this at its annual conference in Accra said the Agency has also advanced preparations to roll out Global Internal Audit standards (GIAS), in 2025 in line with international best practices.

Dr. Osae also highlighted the positive collaboration with institutions such as the State-Owned Enterprises (SOEs) and the Audit Committees that have strengthened financial management and reporting systems, resulting in a significant reduction in irregularities.

He stated that despite the successes chalked by the Agency, some challenges still remain, particularly in sectors like the district assemblies that recorded an increase in irregularities.

Board Chairman of the Internal Audit Agency (IAA), Joseph Winful, for his part explained that, internal auditors are essential to improving accountability, transparency, and good governance in Ghana’s democratic system.

He said internal auditors play an important role in promoting democratic governance given that democracy depends on accurate and transparent information available by generating reliable data for decision-making, thus holding public officials accountable.

Guest Speaker who is also the Director of Legal Education & Director of Ghana School of Law, Justice Nana Barima Yaw Kodie Oppong, also emphasised the importance of maintaining transparency and accountability in public office, with internal auditors acting as the guardians of those principles.

Justice Nana Barima Yaw Kodie Oppong also emphasised the link between competent government and the truthful, impartial work of auditors, who make sure that public funds were used effectively.

He also called for the swift passage of the Internal Audit Agency Amendment Bill before the upcoming elections to strengthen the framework under which internal auditors operate.

In addition to pleading with legislators to move quickly to enhance internal auditors’ working conditions, Justice Nana Barima also urged all interested parties to continue to be vigilant to protect public funds particularly as the country moves towards the upcoming elections.

The conference which was held under the theme “Democratic and Accountable Governance in Ghana: Role of Internal Auditors.” brought together professionals and experts who discussed the critical role internal auditors play in consolidating democratic and accountable governance.

The conference which started on Wednesday August 21, 2024 and ended on Thursday August 22, 2024 also seeks to update stakeholders on developments in the public sector’s internal audit practices while exploring strategies for enhancing democratic and accountable governance within Ghana’s public sector.

By Najat Ibrahim Abdullah

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