The Internal Audit Agency (IAA) has urged Cabinet, Parliament, and the Ministry of Finance to expedite the ongoing restructuring process to address the deteriorating conditions of service for their staff. The agency emphasized that completing this process by December 2024 would enable internal auditors across the country to start the year 2025 with greater confidence and motivation, which in turn would help reduce irregularities and professional misconduct in the sector.
During a media soiree, Prof. Adom Frimpong, a Board Member of the IAA, highlighted the crucial role that internal auditors play as gatekeepers of public funds, stressing the importance of adequately resourcing them to ensure proper oversight. He pointed out that the passage of the Internal Audit Agency (Amendment) Bill 2024 could lead to improved conditions of service for internal auditors, while also safeguarding their independence, objectivity, and professionalism.
Speaking on behalf of Mr. Joseph Winful, Board Chair of the IAA, Prof. Frimpong noted that despite the challenging conditions, internal auditors had managed to save the nation over GHS 5 billion by preventing irregularities, as stated in the 2023 Auditor-General’s report. “These monies could have gone down the drain or found their way into private pockets had it not been for the diligence of internal auditors,” he remarked.
He also warned that failing to adequately resource internal auditors would be detrimental to the country’s growth, especially as corruption, bribery, and other forms of irregularities could escalate if the auditors are not well-supported.
In an interview with the Ghana News Agency (GNA), Dr. Eric Oduro Osae, Director General of the IAA, revealed that irregularities across the public sector had decreased by 32% due to the professionalism and vigilance of internal auditors. He explained that external auditors often rely on internal audit reports as a foundation for their own audits, with internal auditors playing a key role in implementing audit recommendations.
As the agency wraps up its activities for the year, it called on its members to maintain their professionalism, especially in the upcoming election year, as demanded by the ethics of their profession.
