Mr. Thomas A. Thompson-Aryee, Ag. Director-General of the Internal Audit Agency, on 3rd October, 2025, inaugurated the Audit Committee of the Ghana Cocoa Board (COCOBOD). Dr. Samuel Ofosu Ampofo, the Chairman of COCOBOD chaired the inauguration. The Chief Executive of the institution, Dr. Ransford Anerty Abbey was in attendance.
The Chief Executive, in his opening remarks, emphasized the importance of the Audit Committee to the success of the operations of a large public institution such as COCOBOD. He assured members of the support of Management to ensure the execution of their mandate.
Delivering his speech, Mr. Thompson-Aryee highlighted amendments to the PFM Act, such as the inclusion of the Oaths of Office and Secrecy. He mentioned the amendment of the PPA Act to include Commitment Authorization, which requires approval from the Ministry of Finance for the procurement of goods above the threshold of the Entity Tender Committee or procurement that would require the approval of the PPA Board.
The Ag. Director-General hinted at the publication of the PFM Compliance League Table by the Ministry of Finance, which would be based on the timely submission of the Commitment Compliance Checklist Reports. He concluded by urging Management to ensure the implementation of audit recommendations to avoid engagement with the Public Accounts Committee of Parliament. Mr. Bismark Aborbi-Ayitey, Deputy Director-General in charge of Finance, Administration, and Support Service at the Internal Audit Agency, was elected chairperson of the Committee.
The Board Chairman of COCOBOD, in his closing remarks, said a good governance structure requires compliance with the dictates of the PFM Act.
