As part of the reforms under the Public Financial Management Reform Programme in Ghana, a scoping study for the establishment of internal control audit functions in Ministries, Departments and Agencies and Metropolitan, Municipal and District Assemblies was carried out. It resulted in proposals for the establishment of a Central Internal Audit Agency to enhance efficiency, accountability and transparency in the management of resources in the Public Sector.

The Internal Audit Agency is a Public Service institution established by the Internal Audit Agency Act, 2003 (Act 658). The Agency exist as a Central Agency with the object to co-ordinate, facilitate and provide quality assurance for internal audit activities within the Ministries, Departments and Agencies and the Metropolitan, Municipal and District Assemblies.

Functions of the Agency

Section 3 of Act 658 which describes the functions of the Agency. These are;

3. (1) The Agency shall set standards and procedures for the conduct of internal audit activities in the MDAs and
   • The Agency shall ensure that
     • financial, managerial and operating information reported internally and externally is accurate, reliable and timely;
     • the financial activities of MDAs and MMDAs are in compliance with laws, policies, plans, standards and procedures;
     • national resources are adequately safeguarded;
     • national resources are used economically, effectively and efficiently;
     • plans, goals and objectives of MDAs and MMDAs are achieved; and
     • risks are adequately managed in the MDAs and
   • Without limiting subsections (1) and (2), the Agency shall
     • promote economy, efficiency and effectiveness in the administration of government programmes and operations;
     • prepare plans to be approved by the Board for the development

and maintenance of an efficient internal audit for the MDAs and MMDAs;

• facilitate the prevention and detection of fraud; and
• provide a means for keeping the MDAs and MMDAs fully and currently informed about problems and deficiencies related to the administration of their programmes and operations and the necessity for appropriate corrective action.

• The Agency shall monitor, undertake inspections and evaluate the internal auditing of the MDAs and MMDAs.

To be a Centre of Excellence in promoting best practices in internal auditing with Integrity and Professionalism.

To exercise oversight responsibility over internal audit practice in the Public Service by coordinating, facilitating, and setting standards, supporting capacity building for quality assurance, and providing national internal audit coverage for good corporate governance and effective risk management in the Public Service.

Confidentiality, Integrity, Professionalism, Independence and Competence are the core values of the Agency which staff are expected to exhibit in the execution of their duties. These core values are professional and statutory requirements that guides the behaviors and conduct of the staff of the Agency.