Dr. Eric Oduro Osae inaugurated the Audit Committee of the Ghana Post Company Limited on 31st August 2022.
The Deputy Managing Director, Mr. Kwaku Sintim Amponsah in an address read on behalf of the Managing Director spoke on the purpose of the meeting and shared the progress made by the Ghana Post and the role of the Audit Committee in the achievement.
Dr. Osae in his address, said the Audit Committee is a statutory Committee instituted to help public organizations. He stated that the Committee plays three roles prescribed by law and was not to take over the management of the organization. The three roles as enumerated by Director-General are mandatory, advisory and supporting. On the mandatory roles, Dr. Osae said the Committee is to support Management implement recommendations in External and Internal Audit reports, directives from the Public Accounts Committee (PAC) of Parliament and any monitoring reports from the operations of the Company. He mentioned a number of recommendations made by the Auditor-General in its 2021 report and advised the Board and Management to see to its implementation.
As part of the mandatory roles, the Committee is expected to submit an annual report to the Office of the President, Parliament, the Auditor-General and to the Director-General of the IAA. This report, he said should indicate the extent to which the Committee has supported Management deliver on its mandate. On the advisory roles, the Committee is to advise on compliance as regards public financial management systems, implementing risk management processes within the Company due to the risk associated with the business. He encouraged members to support the organization implement a good enterprise risk management system if there was none to enable the anticipation of risks before they occur. Regarding the supporting roles, Dr. Osae added that the Committee is to support the Internal Audit Directorate to prepare and submit a timely risk -based Internal Audit Work Plan as well as Quarterly reports. He advised the Committee to work with the Audit Committee of the Mother Ministry to keep it in the know on the happenings of the Company.
Dr. Osae in his concluding remarks shared on the current activities being undertaken by the government to reduce infractions in the Auditor-General’s report and encouraged the Committee to work with Management to implement recommendations in Internal Audit reports and help turn around the fortune of the organization Company and improve its losses. He pledged the support of the Agency.
Mr. George Hayford, the Board Chairman of Ghana Post, thanked the outgoing Committee for their good work and the solutions they provided to problems. Mr. Hayford pledged the support of the Board and wished them a successful tenure.
The Managing Director, Mr. Bice Osei Kuffour in his closing remarks thanked the Director-General for personally coming to inaugurate the Committee and applauded the good work of the Agency under his tenure. He thanked the outgoing Committee for its good work and added that Ghana Post is poised to succeed. He promised to work with the Committee to improve the brand and grow the fortunes of the organization.
Members of the Audit Committee are Mrs. Gloria Dami Baah (IAA Rep and Chairman), Mr. Henry K. Sain (IAA Rep), Mr. Isaac Amissah Aidoo (ICAG Rep), Mr. Michael Nortey and Mr. Michael Omari Wadie Prince (Board Reps). Â Mr. Markui Acquaye is the Secretary to the Committee.
