On January 9, 2025, the Internal Audit Agency (IAA) and the Institute of Internal Auditors (IIA) jointly launched the Global Internal Audit Standards (GIAS) at the IAA conference room, marking the official commencement of its implementation in Ghana. Initially introduced on January 9, 2024, and adopted on February 22, 2024, the GIAS plays a crucial role in shaping internal audit practices across the country.
The program was opened by Mr. Senanu Mensah, who introduced the dignitaries present. Dr. Eric Oduro Osae, Director General of the IAA, delivered remarks emphasizing the potential of GIAS to strengthen Public Financial Management (PFM) systems, promote accountability, enhance financial governance, and reduce corruption. Dr. Osae highlighted Ghana as the first country to adopt GIAS for public service work and urged institutional heads to support internal auditors in performing their duties effectively.
Mr. Joseph Dakora Zumasigee, President of IIA Ghana, stressed that the standards were developed collaboratively with significant input from Ghana rather than being adopted from external sources. Mr. Eric Nathaniel Yankah, Immediate Past Chairman of the African Federation of Institutes of Internal Auditors (AFIIA), noted the critical timing of the standards given the challenges posed by emerging technologies and evolving risks. He called for legislative support through an Act of Parliament to formally recognize the IIA as a professional body.
The Vice President of IIA elaborated on the GIAS structure, explaining that the standards are divided into five key domains with 15 guiding principles. These principles aim to guide internal audit practices globally, providing a comprehensive framework for evaluating and improving the quality of internal audit functions. The launch of GIAS represents Ghana’s proactive approach to enhancing internal audit standards, reinforcing the country’s commitment to financial transparency.
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