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Business News of Saturday, 2 July 2022

Source: angelonline.com.gh

Creation of Internal Audit Service will offer independence to fight corruption – IAA

President, National Internal Auditors Association, Michael Ayivi President, National Internal Auditors Association, Michael Ayivi

The National Internal Auditors Association has said that Ghana’s public sector will be able to fight corruption if the internal audit agency is independent.

Therefore, Micheal Ayivi, the association’s president has urged parliament and all interested parties to support the establishment and expedite the process of putting the bill into law.

He claimed that by doing this, they can carry out their tasks effectively and without fear.

Mr Ayivi made this observation on June 29, 2022, at the National Internal Auditors Association’s 6th annual congress with the Metropolitan, Municipal, and District Assemblies (MMDAs) and the Regional Coordinating Councils (RCCs) in Sunyani, Bono Region.

“Fighting corruption through strengthening the independence of the Internal Audit of the public sector of Ghana” was the focus of the two-day congress.

When they are established, they will become employees of the Internal Audit Service and report directly to the Director-General of the Service, who will be in charge of managing their resources, training, and advancements.

He went on to say that after the bill is passed, it will improve the industry and assist in cleaning up the system of corrupt practices.

The independence of the auditor, while essential and significant in decreasing infractions, goes beyond the construction of the institutions, according to the Head of the Local Government Service, Dr Nana Ato Arthur, in his address made by James Oppong Mensah, the Chief Director.

He continued by saying that, rather than being created by organizations like the Internal Audit Service, the independence of the auditor is determined by the actions of the individuals and entities involved, which calls for honesty, professionalism and an objective approach to the audit process.

‘The auditor should willingly, ethically, professionally, suppress bias, and report honestly,’ he admonished the auditors.

Dr Ato Arthur, however, guaranteed that important parties will work to strengthen the internal audit unit’s independence through ongoing capacity building, hiring the right personnel in both quality and quantity, and ongoing sensitization of all parties, including auditees and auditors because they are development partners.

The internal audit function, according to Bono Regional Minister, Justina Owusu Banahene, is a pre-corruption and preventive task that must be given more authority to guarantee that the scarce public monies available to institutions are neither wasted nor improperly managed.

She concluded by saying that one of the most effective ways to combat corruption is to encourage internal audit’s independence.

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