As part of its mandate to promote stronger oversight and accountability within public sector institutions, the Acting Director-General of the Internal Audit Agency (IAA), Mr. Conrad Dumbah, inaugurated the Audit Committee of the Cocoa Marketing Company (CMC) on 7th October 2026. The ceremony was attended by the Managing Director of CMC, Dr. Wisdom Kofi Dogbey, who graced the occasion alongside members of the Company’s Management Team.
Dr. Dogbey commended IAA for its continued efforts to strengthen accountability, transparency, and good governance across public sector institutions. He noted that the establishment of the Audit Committee goes beyond a statutory requirement, reinforcing CMC’s commitment to promoting responsible stewardship and sound corporate governance.
He further emphasised that the Committee is expected to provide independent oversight, ensure that identified weaknesses are promptly addressed, and strengthen measures to safeguard public resources. He stated that with the adoption and improving of good governance practices, recurring infractions should become a thing of the past. He concluded his opening remarks by stressing that profitability and good governance are not mutually exclusive; rather, they complement each other in promoting sustainable institutional performance.
A representative of the Institute of Chartered Accountants, Ghana (ICAG), Mr. Kwame Ampem Darko, was elected Chairperson of the Committee. In accepting the appointment, he stressed that the Audit Committee should not be perceived as a fault-finding body, but rather as a trusted partner in providing assurance, strengthening governance, and supporting the achievement of institutional objectives.
In delivering his remarks, Mr. Dumbah noted that the Audit Committee serves as the final line of defence. He urged the Committee to ensure that it supports Management in identifying the root causes of risks and taking timely and appropriate measures to address them. He mentioned that any failure on the part of the Committee to effectively discharge its responsibilities could adversely affect Management’s performance.
The Ag. Director-General concluded by highlighting that the role of Internal Audit extends beyond compliance to encompass the promotion of operational efficiency. He noted that auditing should not be perceived as a witch-hunting exercise, but rather as a trusted assurance function and strategic partner in supporting the organisation’s objectives.
