The Internal Audit Board is the governing body of the Agency. It comprises a membership of 9 drawn from the public sector, the private sector and the Institute of Chartered Accountants (Ghana). The Board formulates policies for the Agency and is required under the Internal Audit Agency Act 658 to do the following:

1. establish appropriate structures for the effective and efficient execution of the object of the Agency;
2. secure the achievement of the object of the Agency;
3. approve plans for the development and maintenance of an efficient internal audit for bodies and institutions to whom this Act applies; and
4. take reasonable and timely action on the reports submitted to it by the Director-General.

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.