The Audit Committee for the Centre for Plant Medicine Research was inaugurated on the 12th October, 2023 at the Centre’s Conference room. Mr. Samuel Gyekye-Mensah a Deputy Director of the Agency inaugurated the Committee on behalf of the Director-General.
Members of the Committee are Mr. Kwabena Nyarko (Chairman and ICAG Rep), Mr. Martin Adjei (IAA Rep), Mrs. Sethina Annag Danquah (IAA Rep). Mr. Prince Philip Larbie and Dr. Mrs. Anastasia Yirenkyi are members of the CPMR Board. Mr. Charles Kwaku Adomako is the Secretary to the Committee.
The inauguration was chaired by Mr. Thomas Appiagyei, Board Chairman of CPMR. He shared on the Centre’s Act, The Specialist Health Training and Plant Medicine Act 2011, Act 833 and the mandate of the Board. He expressed his gratitude for the critical guidance of the Committee to the Board in achieving its mandate for the progress and development of the Centre.
The Board Chairman assured the Committee of the Board’s resolute support and tasked members of the Committee to live up to its mandate.
The Executive Director of the Centre, Prof Alex Asase in his opening remarks welcomed all to CPMR and shared on the purpose of the inauguration. He said he was confident that the committee will help the Management to uphold the principles of good governance. He commended the work of the outgone Committee and thanked them for their great support.
Mr. Gyekye-Mensah who read a speech on behalf of the Director-General congratulated the outgone members on the work done so far. He said the Audit Committee is a high-level corporate governance committee that contributes to the effectiveness of public accountability and the appropriate use of public resources. He noted that the Audit Committee for the Centre for Plant Medicine Research was being inaugurated to fulfill its responsibilities imposed on them under Section 86 (1) of the PFM Act, the Public Financial Management Regulations, 2019 (L.I. 2378), the Public Procurement Act, 2003 (Act 663) as amended, the Guidelines for Effective Functioning of Audit Committees and other applicable financial laws.
Mr. Gyekye-Mensah added that systems for public financial management are essential for an open and accountable government and an efficient system for managing public funds anchors the country from running into the risk of underdevelopment. He enumerated the three roles of the Committee as Mandatory, Advisory and Support to the Internal Audit Unit and other internal monitoring Units.
On the Mandatory role the Committee is to ensure the submission of mandated Audit reports, prepare and submit an annual report of the activities of the Audit Committee and an annual statement of the status of implementation endorsed by the sector minister to the Principal Account Holder (PAH); Minister for Finance; Office of the President; Auditor-General; and the Public Accounts Committee (PAC) of Parliament; Director-General of the Internal Audit Agency.
The Committees is also to advise Management on Financial Management, Risk Management Practice, Internal Control, Governance Processes and Compliance with Laws, Regulations, and Policies. On the support to the Internal Auditor.
Mr. Gyekye-Mensah in his concluding statement said the Audit Committee is very important in the governance of the Centre and requires the backing of Management and all stakeholders to carry out their mandate to achieve effective management of public funds. He tasked the Management of the Centre to orient members on the activities of the Centre and encouraged members to bring their expertise to bear in supporting the Centre.
Prof. Asase in his closing remarks thanked all for coming and pledged the full support of the Management to the Committee and prayed a fruitful working relationship.
