A five-member Audit Committee has been inaugurated for the Ghana Cocoa Board (COCOBOD) to ensure adherence to public financial management regulations.

The committee was inaugurated in accordance with the Public Finance Management Act 2016 by the Chief Executive, Mr Joseph Boahen Aidoo on behalf of the Chairman of the Board of Directors, Mr Hackman Owusu Agyemang.

It is to oversee the management of financial resources of the Board in line with financial management regulations governing state institutions.

The committee is chaired by Mr Thomas Thompson Ashley Aryee, a chartered accountant and the Deputy Director General of the Internal Audit Agency in-charge of Finance and Administration.

Other members of the committee are; Mr Kwame Sarpong, a former Chief Executive of COCOBOD, who is currently a Board member and a consultant and Dr Samuel Odartey Lamptey, acting Chief Executive of Cocoa Inputs Company Limited.

The rest are; Rev. Emmanuel Ackom, Head of Internal Audit at Ghana AIDS Commission and Mr Carlos Kingsley Ahenkorah, a Deputy Minister of Trade and Industry and a member of Board of Directors of COCOBOD.

Speaking on behalf of the Board Chairman, Mr Joseph Boahen Aidoo called on the committee to apply their professionalism in the discharge of their duties.

“With the inauguration of the audit committee, I am hopeful that you will ensure that the Board continues with better audit practices and creates a high standard for itself in financial management,” Mr Aidoo stressed.

The Chairman of the Audit Committee, Mr Thomas Thompson Ashley Aryee, on behalf of members said they would ensure that COCOBOD did not appear before any institution for bad financial management.

“Having selected us to see to the auditing of COCOBOD, be rest assured that the Board will not appear before Public Accounts Committee hearing,” he added.