On 3rd November, 2022, the Audit Committee of the Foods and Drugs Authority (FDA)was inaugurated by Dr. E.O. Osae, Director-General of the Internal Audit Agency (IAA). In attendance were the Deputy Chief Executive Officers in charge of Technical and Corporate Affairs, Dr. Mrs. Akua Martey and Mrs. Yvonne Nkrumah.
Chairing the event on behalf of the Chief Executive Officer of FDA, Dr. Mrs. Akua Martey said the Audit Committee is very important to the Governing Body of the institution. She explained that through the Committee, the institution has not had serious infractions over the years. Dr. Mrs. Martey continued that the Committee which has mandatory, advisory and supporting roles ensures compliance with laws and regulations. She acknowledged the outgoing Committee for supporting the Governing Board, Management and the Internal Audit Directorate of FDA. She prayed the new Committee to continue with the good work of its predecessors.
In his address, Dr. Osae stated that the Audit Committee is a Statutory Committee provided under the Public Financial Management Act. He outlined the mandatory, advisory and supporting roles of the Committee prescribed by law. Under the mandatory roles, the Director-General said the Committee should annually submit a report on its activities indicating the extent to which it had supported Management in the implementation of audit recommendations contained in Internal and External Audit Reports, directives from Parliament and monitoring reports with financial implications. Dr. Osae expounded that the nature of the work of FDA requires development of all kinds of risk mitigating measures and tasked the Committee to support leadership to develop effective risk management policies. He lauded the institution for not being mentioned in the Auditor-General’s Report for serious infractions. He stated that the only issue mentioned by the Auditor-General about the institution was the absence of land ownership documents. Dr. Osae entreated the Committee to take a look at the Auditor-General’s Management Letter.
Under the advisory roles, Dr. Osae mentioned that the Committee should advise on the maintenance of sound financial practices. He praised the institution for its good financial status for the year 2021 and congratulated the past Committee for this great feat. On the supporting roles, Dr. Osae charged the Committee to support the Internal Audit Directorate to deliver on its mandate. He entreated the Committee to strike a good balance between financial and performance audit. He also requested members to make themselves available for Entrance and Exit Meetings of External Auditors. In concluding, Dr. Osae said if the Committee continued the good work where the past Committee left off, he was optimistic FDA would be one of the few institutions unlikely to appear before PAC. He assured the support of the Agency to the work of the Committee.
In her closing remarks, Dr. Mrs. Martey thanked the outgoing Committee for being the best and said she looked forward to a good working relationship with the new Committee. She thanked the Director-General for taking time off his busy schedule to inaugurate the Committee.
Members of the Committee are Madam Stella Segbawu (IAA Rep and Chairperson of the Committee), Mr. T.A. Thompson-Aryee (IAA Rep) and Madam Olivia Eunice Quartey (ICAG Rep). Ms. Amma Pokuaa Agyenim-Boateng is Secretary to the Committee.
