Most public bodies have no audit committees, says Internal Audit Agency

The Internal Audit Agency said it has already put the EOCO and other agencies on standby to prosecute people who may be found to have corruptly benefited from the lack of internal audit committees in various public agencies for months.

This comes as the IAA laments the lapses in some public offices due to delays in inaugurating new internal audit committees to seal the loopholes in irresponsible financial transactions.

The Internal Audit Service is expected to do a mass inauguration of such committees from 6 June.

But ahead of that, the head of the agency Dr Eric Oduro Osae said the current situation is worrying.

“The audit committees of the various assemblies and the regional coordinative councils have had their tenure expiring some as far back as December, others March this year.

“And I think it’s this nomination process that delayed the re-composition, but what we should understand is that a day in the life of a public institution without an audit committee is so serious and dangerous to the republic of Ghana that it means control systems are not working,” Osae said.

He added: “Funds that are transferred there can be used anyhow because the audit committee are our eyes and ears on the ground and together with the internal auditors they will be able to put a check on the system.

“But, fortunately all the internal auditors are expected to submit their second quarter internal audit report to the agency. These reports, fortunately, will be reviewed by the audit committees… For any bad system, you will get people benefitting.”

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