As part of its mandate, the Internal Audit Agency (IAA) organised a two-day training programme on Enterprise Risk Management (ERM) for participants from the Eastern, Volta and Oti Regions from 7th to 8th July,2026 in Koforidua. The training is being conducted on a zonal basis, with the Koforidua programme marking the first in the series.
In opening remarks delivered on behalf of the Chief Director of the Eastern Regional Coordinating Council, Mr. Eric Appiah stated that Enterprise Risk Management (ERM) has become an indispensable tool that enables institutions to anticipate challenges, safeguard resources, and achieve their mandates effectively and efficiently.
He further stated that weak internal controls, procurement irregularities, and non-compliance with statutory requirements, among other deficiencies, give rise to financial, operational, technological, and other organisational risks. He noted that when these risks are ignored or inadequately managed, they can result in financial losses, audit infractions, and diminished organisational performance.
He emphasised that Management’s responsibility goes beyond responding to risks, stressing the need to put proactive measures in place to prevent or mitigate potential risks before they materialise. He noted that this calls for a strong culture of compliance, where procurement processes are conducted transparently and in accordance with the law, financial transactions are duly authorised and supported by appropriate documentation, public assets are safeguarded, and public funds are utilised solely for their intended purposes.
He concluded by emphasising that risk management is a shared responsibility and that the timely identification and reporting of emerging risks are essential to building resilient institutions.
