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March 2, 2018 | Social News

UCC Inaugurates Five-Member Audit Committee

ModernGhana.com
UCC Inaugurates Five-Member Audit Committee

A five-member Audit Committee for the University of Cape Coast (UCC) has been inaugurated with a call to the members to go the extra mile to ensure that best financial management practices are upheld.

Mr. Ransford Agyei, acting Director General of the Internal Audit Agency (IAA), said the committee should see to it that there was accountability, transparency and judicious use of public resources and assets.

It has Professor Omane Antwi of the IAA as its Chairman with Mr. Samuel Peterson Larbi also of the IAA, Mr. Kofi Abaidoo from the Institute of Chartered Accountants, Ghana, Dr. Thomas Agyarko-Poku and Dr. Edem Amenumey, both of the University's Council, as the other members.

They would serve a two-year term and this could be renewed.

Mr. Agyei indicated that the committee had the power to authorize or conduct investigations into any suspected breaches of the financial regulations.

He encouraged the members to be abreast of not only the laws, policies and rules governing the university but the public financial management law (Act 921).

The committee is expected to among other things promote the effective functioning of the Internal Audit Unit of the UCC, to follow up on the implementation of audit recommendations so that there would be more efficient utilization of public resources.

It would additionally advice the University on strategic and annual internal audit plans.

Mrs. Nancy Thompson, Chairperson of the UCC Governing Council, said the appointment of the committee was in conformity with the public financial management law.

She reminded the members to show commitment, diligence and professionalism in the performance of their assigned job.

She also counselled team work, and noted that, the committee was vital to the fight to bring down corruption.

Prof Antwi pledged they would not disappoint and implored the internal auditors and the entire university community to give them the needed support to perform.

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