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15.11.2010 Business & Finance

Internal Audit Agency Rebrands

By Daily Guide
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The Internal Audit Agency (IAA) will soon commence a re-branding exercise to reposition the internal audit function so as to provide an invaluable management tool for implementing good governance, risk management and internal control.

'Our key focus is to chart a new strategic direction for the agency through rebranding and effective promotion of internal audit practice in Ghana', Nii Adumansa-Badoo, Chairman of the IAA said.

Announcing these plans at the 45th board meeting of the agency on Friday, the board chairman said the Internal Audit Board, as part of its new strategy, was advocating the consolidation of internal audit staff of Ministries, Departments and Agencies as well as Metropolitan, Municipal and District Assemblies with the agency as the head of the class.

This, he believes, will go a long way to ensure objectivity, independence and protection of internal auditors.

The proposal for the creation of internal audit class was recommended through needs assessment exercise carried out by the Institute of Internal Auditors based in Florida, US and the World Bank.

Nii Adumansa-Badoo said the agency's vision was to become an organization providing value-added internal audit for accountable performance through the implementation of increasing access to information on internal audit activities for MDAs and MMDAs and other stakeholders.

He stressed that human capacity development was fundamental to the core activities of the IAA hence training programmes were organized on continuous basis to update the knowledge, skills and attitudes of personnel.

During the five years existence of the IAA, the agency has made some achievements including the development of risk management policy, framework and implementation guide developed for use by MDAs and MMDAs and the training of 32 internal auditors of MDAs and MMDAs in quality assessment.

These achievements, the agency said, could be considered as providing a launching pad to set the right control environment for the deployment of internal audit functions in the public sector.

By Charles Nixon Yeboah

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