The 2023 Annual Internal Audit Conference was held from 14th – 15th September, 2023 at the University of Professional Studies, Accra (UPSA) Auditorium.
The theme for the Conference was “20 Years of Internal Audit Practice in Ghana: Achievements, Challenges and Way Forward” brought together over one thousand three hundred (1,300) participants from all sixteen (16) regions of the country. Hon. Yaw Osafo Maafo, the Senior Presidential Advisor was the Guest of Honor.
Former Director-Generals and the current one, Dr. E.O. Osae shared valuable insights, acknowledged the challenges of the practice, and made meaningful contributions to the way forward during a panel discussion on the theme of the Conference.
Ms. Sena Dake, President of the Institute of Chartered Accountants, Ghana and Nii Asafoatse Abbey, a Director Associate at Deloitte shared with participants on the topics Contemporary Legal and Professional Requirements of the Modern Internal Auditor and Leveraging on Artificial Intelligence (AI) for Effective Internal Auditing in Ghana respectively on the second day.
The Conference was climaxed with the giving of awards to deserving recipients from the MDA’s, MMDAs, SOE’s and Tertiary institutions and a cake cutting ceremony to commemorate the 20th Anniversary of the passage of the Internal Audit Agency Act. 2003 (Act 658). Awards went to the under listed:
- Former Director- Generals
- Key Sponsors
- Guest Speaker
- Best Head of Covered Entity that Supports IAUs
- Best Enterprise Risk Management Compliant Institution
- Best Audit Committee
- Best Internal Auditor
- Overall Best Internal Auditor
- DG’s Special Award to Best Female Internal Auditor
- Integrity Personality in Internal Auditing
Dr. Mrs. Janet Ampadu Fofie, the Chairperson of the Conference, in her welcome address noted that the theme for the Conference was timely and appropriate. She addressed how Internal Audit Practice has evolved over the past 20 years, most importantly, the expectations of the Practice in the near future. Dr. Ampadu Fofie acknowledged the support of GIZ and the Agency in creating a platform where Internal Auditors can gather to brainstorm, share ideas and best practices. She encouraged Internal Auditors to be proactive and collaborate with stakeholders in identifying and recognising early warning signs of issues and assist public institutions to find lasting solutions for effective management of public resources. She concluded that the Internal Audit Agency holds the key to ending the fight against corruption.
Addressing the Conference, the Director-General reviewed the achievements of the Agency and strategies for restructuring and repositioning the Internal Audit Practice. He applauded the dedication of internal auditors to uphold integrity in the management of public funds in the two decades, leading to significant achievements in the country. He mentioned the challenges internal auditors face in the performance of their duties. He concluded by mentioning the reduction in irregularities and attributed this progressive feat to the work of internal auditors, Audit Committees and Heads of Covered Entities.
The Agency’s achievements over the years according to Dr. Osae are:
- Movement of Public Sector Internal Audit from Pre-auditing to Risk-Based Auditing.
- Modification of the Audit Report Implementation Committee to the Audit Committee system.
- Establishment of Audit Committee in more than 90% of public sector institutions.
The keynote speaker, Mr. Yaw Osafo Maafo, the Senior Presidential Advisor in his address, acknowledged the support of the late Mr. Kojo Baah Wiredu in the passage of the Internal Audit Agency Act 20 years ago. As the initiator of the Act, he expressed his excitement at being there after 20 years to commemorate its 20th Anniversary.
The Senior Presidential Advisor mentioned that the Internal Audit Act is one of the most important laws that keeps the soul of the country together. Mr. Osafo Maafo added that a revised law was long overdue to ensure objectivity of the internal auditor. Mr. Osafo Maafo applauded the reference of audit reports to various Select Committees in Parliament, a novelty initiated by the Speaker of Parliament and added that the 20 years of Internal Audit Practice in Ghana has been result-oriented and sustainable. He recommended that newly appointed political office holders should be educated about the work and benefits of the internal auditor. Mr. Osafo Maafo also mentioned the Fees and Charges Bill the Agency is seeking to get passed and assured the Agency of his support.
