The Director-General of the Internal Audit Agency, Dr. E. O Osae inaugurated the Audit Committee of the Youth Employment Agency (YEA) on 1st November, 2022.
Members of the Audit Committee are Mr. Fredrick Agyarko Oduro (IAA Rep and Chairman), Mrs. Akua Bonsu-Owu, (ICAG Rep), Mrs. Josephine Opoku-Agyemang (IAA Rep). Dr. Eric Yeboah and Mr. Vincent Ekow Assafuaa represent the Board of the YEA. Mr. Henry Asante is the Secretary of the Committee.
In his opening address the Chief Executive Officer of the YEA, Mr. Kofi Agyapong mentioned that the term of the previous Audit Committee ended months ago and that, the inauguration of the new one was important and in accordance with the PFM Act. He assured members of the needed support from Management of the YEA in their bid to ensure value for money and save the public purse.
Dr. Osae in his address, indicated that Audit Committees are so important that their Annual Reports go to the Office of the President, Speaker of Parliament and Auditor-General. He noted that Audit Committees are not to take over the management of the organization, but support Management deliver on its Mandate. He enumerated their three roles as mandatory, advisory and supporting. Under the mandatory roles members are to ensure that the organization has a Risk-Based Internal Audit Plan, the Internal Auditor conducts a risk assessment of the organization, produce a report and submits it timely. Members of the Committee are also to support management implement recommendations that come out of Internal and External Audit Reports or directives from the Public Accounts Committee (PAC) of Parliament and submit an Annual Report on its activities to the office of the President.
On the advisory role, Dr. Osae encouraged members to bring their expertise to bear and advise on the control systems to reduce infractions reported. He tasked them to support the CEO and draw his attention to avoidable pitfalls. The committee is also to support the Internal Auditor deliver on his mandate. He informed members of the Government’s effort to strengthen Internal Audit and the adoption of the International Professional Practice Framework (IPPF) for its work benchmarking with Internal practice. The Director-General advised Management to give members an orientation on the activities of the Agency to enable them understand their mandate and be able to give good support.
He informed the meeting of the automation of public sector internal auditing and the submission of reports online to the Agency. Dr. Osae spoke about the publication of the Defaulters’ List of institutions who fail to submit reports and their attendant consequences. He shared on the passage of the Internal Audit Bill and its current status and encouraged members to work hard to support the YEA. He pledged the support of the Agency to the work of the Committee at all times.
Mr. Kofi Agyapong thanked the meeting, congratulated members on their inauguration and pledged the unflinching support of the Management of YEA.
