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22.10.2008 Business & Finance

Audit Exchange Programme Underway

By Daily Guide

Several internal auditors from Commonwealth countries have begun a three-week Internal Audit Exchange Programme in Accra, expected to improve internal audit practising in their respective countries.

The programme, the second to be held in Ghana this year, is designed for public sector internal auditors in the Commonwealth, with the aim of enabling participants to gain hands-on experience in various aspects of internal auditing.

Participants, drawn from Sri Lanka, Samoa, Zambia, Sierra Leone, Malawi, Papua New Guinea, Swaziland, Solomon Islands, Botswana and Ghana, will discuss some of the current approaches to internal audit practice and hope they are implemented in different jurisdictions.

At the opening ceremony, held on Monday, Patrick Nomo, Director General, Internal Audit Agency, Ghana, urged the auditors to acquire more knowledge with regard to auditing since the world is entering into a new era of intellectual economy.  

He reiterated government's gratitude to the Commonwealth Secretariat for its continued support to improve internal audit practice in Ghana.

“Our collaboration with the Commonwealth Secretariat has improved our capabilities in the specific areas of information systems audit, risk management and audit committees amongst others”.

Professor Samuel Woode, Chairman of the Public Services Commission, explained that the challenge for auditors today is to meet the accepted standards of prudent financial performance as well as maintain high quality control of internal systems in public services.

 “It is to meet these challenges of public expenditure management and financial accountability that the government of Ghana has been relentless in its support for internal and external audits, as well as procurement practices.”

On his part, Kaifala Marah, Adviser, Public Expenditure Management, Commonwealth Secretariat said the present global financial crisis should urge developing countries to strengthen internal audit and controls.

In addition, the call for prudent allocation and management of national budgets should trigger strategy, foresight and commitment by governments, he added.

The programme is on the theme, “Building Pyramids in the Valleys”.

By Charles Nixon Yeboah