Workshop for auditors opens

Accra, July 25, GNA - A workshop that seeks to discuss the draft internal audit regulations and standards to ensure prudent financial management and accountability in public sector institutions opened in Accra on Tuesday with a reminder to internal auditors to ensure that organisations complied with laws on accounting.

Mr Kwadwo Baah-Wiredu, Minister of Finance and Economic Planning, told the opening session that prudent financial management depended on how efficiently auditors carried out their work.

He said the internal audit agency had been bestowed with powers and authority to have unimpeded access to records, books, documents and equipment of the Ministries; Departments and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs) to evaluate their operational capacities and deficiencies.

Mr Baah-Wiredu noted that national resources and assets needed to be adequately safeguarded and that the onus laid on internal auditors to ensure that MDAs/MMDAs complied with the laws, policies, standards and procedures.

The Minister said the need for standards was to ensure that internal auditors maintained integrity and objectivity and that they exercised due professional care in the planning, conduct and reporting of their work.

He commended the internal audit agency for developing the human resource capacity for the public sector as well as putting up a professional practice framework for the sector.

The workshop, which is being attended by external and internal auditors and other financial managers in the MDAs would critically assess internal control management, risk assessment control, information and communication and monitoring, among other topics.