The Ministry of Finance has inaugurated a nine-member Governing Board of the Internal Audit Agency (IAA) as part of government’s drive to strengthen accountability and improve value for money in public financial management.
The new Board is tasked with revising the Internal Audit Agency Act, 2003 and spearheading reforms to reduce audit infractions, enhance compliance, and improve risk management across the public sector.
Speaking at the ceremony, Finance Minister Dr. Cassiel Ato Forson underscored the importance of restoring confidence in fiscal governance through a stronger internal audit function.
“We must turn the Internal Audit Agency around and restore it to the purpose for which it was established. The level of waste is too high, and the Ghanaian taxpayer is losing too much. We need to find a way to fix it,” Dr. Forson stated.
He noted that recurring infractions highlighted in the Auditor-General’s reports reflect weaknesses in accountability systems, urging the Board to implement measures that sanction internal auditors who fail to perform their duties, including possible licence revocations.
Dr. Forson also announced plans to establish an “Auditors’ Court” to enhance supervision of internal auditors and promote greater public scrutiny. He assured the Board of government’s full support in rebranding and strengthening the Agency.
Responding on behalf of the Board, Chairperson Professor Joshua Yindenaba Abor, a qualified accountant and Professor of Finance, described the appointment as a “noble call to duty.” He pledged the Board’s commitment to promoting accountability and ensuring value for money in the management of public resources.
Members of the Governing Board
- Professor Joshua Yindenaba Abor – Chairperson, Financial Economist and Professor of Finance
- Mr. Benjamin Adjetey Sowah – Director, Budget Division, Ministry of Finance
- Mr. Divine Yao Ayidzoe – Director, Ministry of Local Government, Chieftaincy and Religious Affairs
- Dr. (Mrs.) Irene Stella Agyenim-Boateng – C-Suite Executive and HR Practitioner
- Mr. Thomas Ashaley Thompson-Aryee – Director-General, IAA
- Mr. Daniel Ofosu – Investor
- Dr. Isaac Nyame – Managing Director, Ikern Associates Limited
- Mr. Kwesi Esso Thomas – CEO, Chamber of Pension Trustees
- Mr. Godfred Ashiagbor – Member
The inauguration marks a significant step in government’s fiscal reform agenda, aimed at strengthening institutions, reducing waste, and ensuring that the auditing profession receives the recognition it deserves.
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