Gov’t inaugurates new IAA board to drive reforms, strengthen public financial accountability

The government has inaugurated a nine-member Governing Board for the Internal Audit Agency (IAA), tasking it with spearheading sweeping reforms aimed at strengthening accountability, reducing financial irregularities, and improving value for money in the management of public resources.

Speaking at the inauguration ceremony, the Minister of Finance, Dr. Cassiel Ato Forson, urged the Board to introduce measures that promote accountability and ensure that internal auditors who fail in their duties face appropriate sanctions, including the possible revocation of professional licenses.

Members have been tasked with developing strategies to reposition the Agency and strengthen its mandate in ensuring compliance, risk management, and sound governance practices within public institutions.

Dr. Forson also called on the Agency to intensify professional development programmes for its staff to enhance their capacity and effectiveness.

Encouraging members of the Board to serve with integrity, Dr. Forson said their success should ultimately be reflected in improved outcomes in future Auditor-General’s reports.

He announced plans to revise the Internal Audit Agency Act, 2003, and implement key institutional reforms to enhance the effectiveness of internal auditing across the public sector.

According to the Minister, strengthening the internal audit function is critical to addressing persistent weaknesses in public financial management and restoring public confidence in state institutions.

“We must turn the Internal Audit Agency around and restore it to the purpose for which it was established,” Dr. Forson stated.

He noted that the recurring audit infractions highlighted in Auditor-General’s reports point to significant gaps in the country’s accountability systems, including shortcomings within internal audit structures.

The Finance Minister further disclosed plans to establish what he described as an “Auditors’ Court” to strengthen oversight of internal auditors and promote greater public scrutiny and accountability within the profession.

He reiterated the government’s commitment to supporting the Agency’s transformation agenda, expressing confidence that the reforms would result in a stronger, more independent, and more impactful institution.

Responding on behalf of the Board, its Chairperson, Professor Joshua Yindenaba Abor, expressed appreciation to the government for the opportunity to serve, describing the appointment as a noble call to duty.

He assured the Minister that the Board would work diligently to strengthen the Agency and promote accountability, transparency, and value for money in the management of public resources.

He pledged the Board’s full commitment to supporting the Agency’s mandate and advancing reforms that will enhance internal auditing and public financial governance in the country.