The Inner Audit Company (IAA) has launched two paperwork to advertise professionalism in audit observe within the public sector.
The paperwork are the 2025 revised Threat-Primarily based Inner Audit (RBIA) Guide and the 2025-2028 Strategic Plan.
The Director-Normal of the Inner Audit Company, Dr Eric Oduro Osae, stated the development of the 2 paperwork had turn out to be obligatory to satisfy present wants and the altering dynamics of audit observe.
He defined that the RBIA Guide had been revised to replicate finest world practices, together with the 2024 International Inner Audit Requirements of the Institute of Inner Auditors, the ISO 31000:2018 Threat Administration Normal, and the Committee of Sponsoring Organisations’ 2013 Inner Management Framework.
“This handbook supplies a structured methodology for inside auditors to evaluate, mitigate, and report on dangers in public sector establishments, making certain that assets are utilised successfully and for his or her meant functions,” he said, including that “the handbook documented the usual practice necessities of all inside auditors offered steerage in audit observe within the public service.”
Dr Osae emphasised that the handbook additionally launched consistency in inside audit practices throughout the general public sector and ensured that inside audit actions within the public sector aligned with world requirements.
Moreover, Dr Osae said that the brand new handbook took under consideration the nation’s Public Financial Administration legal guidelines and the brand new world auditing requirements.
“The adoption of the brand new requirements has the potential to strengthen Public Monetary Administration programs, promote accountability and improved financial governance, cut back corruption utilizing a preventive strategy, and improve worth for cash in public administration,” he defined.
Dr Osae then urged audit professionals within the public sector to decide to the rules of integrity, professionalism, and accountability within the nation’s quest for efficient public monetary administration.
On the strategic plan, Dr Osae talked about that it offered a professionalfessional blueprint to information efforts to professionalise inside audit observe in Ghana’s public sector.
He defined that the plan was based mostly on 5 pillars, together with constructing and strengthening institutional capability, enhancing the human and logistical assets of the IAA for effectiveness, enhancing inside audit observe for efficient Public Monetary Administration, and strengthening the inner audit operate throughout public establishments.
The previous Board Chairman of the IAA, Joseph Winful, added that the implementation of the plan would additionally improve worth for cash in authorities enterprise.
The President of the Institute of Inner Auditors, Joseph Dakora Zumasigee, counseled the IAA for growing the handbook and strategic plan, describing it as a major achievement.
He stated that Ghana had made notable progress in inside audit observe throughout the sub-region.
The IAA was established underneath the Inner Audit Company Act 2003 (Act 658) to train oversight and regulate inside audit observe in Ghana’s public sector. It achieves this by coordinating, facilitating, quality-assuring, setting requirements, and offering steerage to public sector operators.
BY KINGSLEY ASARE
