The Ag. Director-General of the Internal Audit Agency (IAA), Mr. Thomas Ashaley Thompson-Aryee on 29th July, 2025 inaugurated the Audit Committee of the Ghana National Petroleum Corporation (GNPC).
The Chairperson of the inauguration was Mr. Kwame Ntow Amoah, Chief Executive of the Corporation. Other members of Management were in attendance.
The Chief Executive, in his opening remarks, stated that the Audit Committee is committed to accountability and transparency which is fundamental to preserving the GNPC brand of promoting trust.
Mr. Benjamin Sowah Adjetey was elected as Chairperson of the Audit Committee. In his acceptance speech, he thanked members of the Committee for the trust reposed in him. He continued that though the responsibility was huge, he would work diligently with the assistance of other members of the Committee to advance the course of the Entity.
Mr. Thompson-Aryee in his speech intimated to the gathering that one of the takeaways from a meeting of the Finance Committee of Parliament included the need for Audit Committees to add value to the operations of the institutions they serve. He further spoke about reforms taking place in the public financial management space such as the Commitment Control Compliance Checklist (CCCC) issued by the Minister for Finance.
He explained that by the issuance of the CCCC, Covered Entities are required to seek approval for procurement transactions beyond the Entity Tender Committee’s approval threshold. He continued that by this directive, Internal Auditors are mandated to submit reports on the CCCC every quarter to the IAA for onward submission to the Ministry of Finance. Failure to do so would attract appropriate sanctions. The Ag. Director-General informed the meeting that the Commitment Control Compliance reports for the 2nd Quarter were due for submission by 31st July, 2025.
Concluding, Mr. Thompson-Aryee spoke about the upcoming 2025 Annual Internal Audit Conference scheduled for 3th – 4th November, 2025 at the Accra International Conference Centre (AICC) and invited the meeting to attend the Conference.
Mr. Ntow Amoah, in his closing remarks emphasized that the institution of the Audit Committee is very important to GNPC. He expressed optimism that with the inauguration of the Committee, recurring audit issues would be resolved. He added that he was hopeful GNPC will be a star in the midst of the other Covered Entities and pledged Management’s unwavering support to the achievement of the mandate of the Committee.
