The Finance Ministry has inaugurated a nine-member Governing Board for the Internal Audit Agency (IAA) as part of efforts to strengthen public financial management, improve accountability, and reduce recurring audit infractions across the public sector.

The newly constituted board has been tasked with spearheading reforms within the Agency, including a review of the Internal Audit Agency Act, 2003, and implementing measures to enhance compliance, risk management, and value-for-money auditing in state institutions.

Speaking at the inauguration ceremony, Finance Minister Dr Cassiel Ato Forson stressed the importance of a strong internal audit system in safeguarding public resources and restoring confidence in Ghana’s public financial management framework.

He noted that many of the weaknesses highlighted in Auditor-General’s reports could be addressed through a more effective internal audit regime.

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

He further lamented the high level of waste within the public sector, adding that “the Ghanaian taxpayer is losing too much” and calling for urgent action to address the problem.

The Minister urged the Board to promote accountability by ensuring that internal auditors who fail to discharge their responsibilities are sanctioned where necessary, including through the possible withdrawal of professional licences.

He also called for enhanced training and professional development programmes to equip auditors with the skills needed to perform effectively.

As part of broader reforms, Dr. Forson announced plans to establish what he described as an “Auditors’ Court” to strengthen oversight of internal auditors and enhance transparency and accountability within the profession.

He assured the Board of government’s support in its efforts to reposition the Agency and improve its impact.

“Your success must be reflected in the Auditor-General’s report,” he told members of the Board, encouraging them to serve with integrity and help elevate the status of the auditing profession.

Responding on behalf of the Board, Chairman Professor Joshua Yindenaba Abor expressed appreciation for the confidence reposed in the members and pledged their commitment to strengthening the Agency’s mandate.

He described the appointment as a “noble call to duty” and assured the Minister that the Board would work diligently to promote accountability and prudent management of public resources.

The Board comprises professionals from the fields of finance, accountancy, auditing, human resource management and public administration, including the Director-General of the Internal Audit Agency, Mr Thomas Ashaley Thompson-Aryee, and representatives from key public institutions.