Thursday, November 14, 2024
[vc_custom_heading text=”Our Vision” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″][vc_custom_heading text=”To be a Centre of Excellence in promoting best practices in internal auditing with Integrity and Professionalism.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” css=”.vc_custom_1602485080397{margin-top: 20px !important;margin-bottom: 24px !important;}”]
[vc_custom_heading text=”Our Mission” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″][vc_custom_heading text=”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.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” css=”.vc_custom_1602485259707{margin-top: 20px !important;margin-bottom: 24px !important;}”]
[vc_custom_heading text=”Core Values” font_container=”tag:h4|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″][vc_custom_heading text=”The following 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 behaviours and conduct of the staff of the Agency.” font_container=”tag:p|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” css=”.vc_custom_1602485147590{margin-top: 20px !important;margin-bottom: 24px !important;}”]
[vc_custom_heading text=”Our Background” font_container=”tag:h2|font_size:40px|text_align:center|color:%23ffffff|line_height:48px” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″][vc_custom_heading text=”The Government of the Republic of Ghana by the Internal Audit Agency Act, 2003 (Act 658) established the Internal Audit Agency as an apex oversight body to co-ordinate, facilitate and provide quality assurance for internal audit activities within Ministries, Departments and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs). As part of the reforms under the PUFMARP, a scoping study for the establishment of internal audit functions in MDAs and MMDAs was carried out in 2007. It resulted in proposals for the establishment of the Agency to enhance efficiency, accountability and transparency in the management of resources in the Public Sector” font_container=”tag:p|text_align:center|color:%23ffffff” use_theme_fonts=”yes” css_animation=”fadeInUp” css=”.vc_custom_1602486489939{margin-top: 20px !important;margin-bottom: 0px !important;padding-top: 0px !important;padding-bottom: 0px !important;}”]
[vc_custom_heading text=”Summary of Key Requirements of Act 658″ font_container=”tag:h3|text_align:left” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″][vc_custom_heading text=”The Internal Audit Agency Act, 2003 (Act 658), established the Agency with the object to co-ordinate, facilitate, and provide quality assurance for internal audit activities within MDAs and MMDAs. Section 3 of Act 658 which describes the functions of the Agency may be summarized as follows:
  1. Section 3(1) requires the Agency to set standards and procedures for the conduct of internal audit activities;
  2. Section 3(2)(a),(b),(c),(d), and (e) requires the Agency, working through the network of internal auditors in MDAs and MMDAs, to ensure that plans are achieved, national resources are safeguarded and used economically;
  3. Section 3(2) (f) requires the Agency to ensure that risks are adequately managed in MDAs and MMDAs. The following may be subsumed under this;
    1. Conduct Performance Audits – section 3(3)(a)
    2. Facilitate the prevention and detection of fraud – section 3(3)(c)
    3. Carry out education and sensitization of the MDAs and MMDAs on the work of internal auditors – section 3(3)(d)
  4. Section 3(3)(b) requires the Agency to prepare Strategic Plans and Annual Work Plans for the approval of the IAB
  5. Section 3(4) requires the Agency to monitor, undertake inspections and evaluate the internal auditing of MDAs and MMDAs;
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[vc_custom_heading text=”The Internal Audit Board” font_container=”tag:h3|text_align:center” use_theme_fonts=”yes” css_animation=”fadeInUp” el_class=”heading-h1″ css=”.vc_custom_1602497233385{margin-bottom: 40px !important;padding-bottom: 0px !important;}”]

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 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.

1.3 The Internal Audit Agency Secretariat

The Secretariat of the Agency is headed by a Director-General with supporting staff.  The functions of the Secretariat under Act 658 include the following:

  • Securing the execution of the policies of the Board;
  • Making regular reports to the Board on the management and operations of the Agency;
  • Providing the data, statistics and advice necessary for the formulation of policies for the attainment of the objective of the Agency; and
  • Performing such other duties as the Board may direct.
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