Mr. Nathan Yankey, on behalf of the Director-General of the Internal Audit Agency inaugurated the Audit Committee of the University of Ghana on 2nd August, 2022.
Mrs. Emelia Naa Kwantsua Agyei-Mensah, the Registrar of the University in her opening address commended the outgoing members for their great work. She spoke of the efficiency and professionalism exhibited by the outgoing Committee and recognized the controls facilitated by the Committee that has assisted in effective and efficient running of the University. Mrs. Agyei-Mensah added that it is expected that the new members will work together with Management to ensure the University complies with the provisions of the Public Financial Management Act.
Mr. Yankey in his address said the work of the Audit Committee depend on its membership. He spoke on the constitution of the Committee and added that the calibre of its membership had the potential of delivering on its mandate. Mr. Yankey stated the mandatory roles of the Committee as working with Management to pursue the implementation of recommendations in Internal and External Audit reports, directives from the Public Accounts Committee on the Auditor-General’s report and any report that will emerge from internal monitoring reports. He added that the Audit Committee is required to submit an annual and half yearly reports to stakeholders.
On the advisory role, he tasked members to advice Management and the University Council on the best ways of managing risk and governance processes to establish effective controls to achieve their mandate effectively. He charged the Committee to help strengthen its risk system not only on property but on human resource as well. Mr. Yankey again enjoined members of the Committee to support leadership of the University in all internal audit services and review its risk management for Management assurance and effective achievement of its mandate.
He concluded that the Audit Committee is coming is to complement the Council’s work to ensure good governance, effective risk management, sound internal controls as well as good financial management practice.
The Vice-chancellor, Professor Nana Aba Appiah Amfo in her closing remarks commended the outgoing Committee’s work which ensured the compliance of the University as far as the PFM Act and Regulations are concerned. She mentioned the award won by the Committee and appreciated the work and effort of all its members and extended her gratitude for their commitment. Prof. Appiah Amfo assured Management’s commitment to the work of the new Committee.
Members of the Audit Committee are Dr. Eric Oduro Osae (Chairman and Director-General of IAA), Dr. Sani Mohammed (IAA Rep), Mr. Harold Richardson (ICAG Rep), Mr. Amos Amankwah (Council Rep) and Mr. Daniel A. Ameyaw is the secretary of the Committee.
