Accra, June 05, GNA – The Internal Audit Agency (IAA) has scheduled June 6 – 13 for the mass inauguration of audit committees of Regional Coordinating Councils (RCCs) and Metropolitan, Municipal and District Assemblies (MMDAs) across the country.
A statement signed by Dr Eric Oduro Osae, the Director-General of the IAA, copied to the Ghana News Agency, said the inauguration of the first batch of seven regions would take place on June 6 in the various regional capitals.
These include the Upper West Region; Wa, Upper East and North East regions; Bolgatanga, Northern and Savannah regions; Tamale, and Western and Western North regions; Takoradi.
The Volta Region would have its inauguration on June 8 in Ho, while June 9 would be for Oti Region; Dambai, Ashant Region; Kumasi, Bono, Ahafo and Bono East; Sunyani.
The statement said the Greater Accra and Central regions would have theirs on June 10 in Accra and Cape Coast, respectively, whereas the Eastern Region is slated for June 13 in Koforidua.
The statement said Sections 86-88 of Public Financial Management (PFM) Act 2016(Act 921) requires Covered Entities including MMDAs and RCCs to have audit committees to support them implement and adhere to sound financial controls and systems in the use of public funds.
“It has, however, come to the attention of the IAA that most MMDAs and RCCs are currently functioning without properly constituted Audit Committees (due to expiration of tenure after exhausting the two-term mandatory period provided for by the PFM Act),” it said.
“The IAA ,established by the Internal Audit Agency Act, 2003(Act 658) is mandated under the Guidelines for Effective Functioning of Audit
Committees(2017) issued by the Minister for Finance to ensure that Covered Entities have functioning Audit Committees.”
The inauguration is in line with the important corruption prevention role of audit committees established under Sections 86-88 of the PFM Act 2016(Act 921) in the financial governance of RCCs and MMDAs.
This includes pursuing management to implement recommendations and producing annual status of implementation report on recommendation contained in an internal audit report; Parliament’s decision on the Auditor-General’s report; Auditor-General’s Management Letter; and the report of the internal monitoring unit (D/MPCU or RPCU) particularly, in relation to financial matters raised.
The statement said the MMDCEs were encouraged to support the process for improved Financial Governance of the RCCs and MMDAs.
“It must be noted that, it is an offence under Section 98(1d) of the PFM Act 2016 (Act 921) for a Local Government Authority (RCC or MMDA) or a Covered Entity to operate without a properly constituted Audit Committee.”
“The IAA entreats all and sundry, especially the Internal Auditors across the country, to support the inauguration for improved governance and effective use of public funds.”
Source: Ghana News Agency
