By Antoinette Abbah
The Internal Audit Agency (IAA), in collaboration with the Regional Coordinating Councils, RCC, is undertaking a mass inauguration of new Audit Committees for all RCCs and MMDAs across the country. The event takes place from Monday 6th to the 13th of June 2022 at the various RCCs.
A statement signed by the Director-General of the Agency, Dr. Eric Oduro Osae, said the Public Financial Management Act 2016 requires covered Entities including Metropolitan, Municipal and District Assemblies, MMDAs, and RCCs to have Audit Committees to support them implement and adhere to sound financial controls and systems in the use of public funds.
This follows the fact that most MMDAs and RCCs are currently functioning without properly constituted Audit Committees due to expiration of their tenure.
The statement encourages all Regional Ministers and Metropolitan, Municipal and District Chief Executives to support the process for improved financial governance of the RCCs and MMDAs.
It is an offence under Section 98(1d) of the Public Financial Management Act 2016 (Act 921) for a Local Government Authority or a Covered Entity to operate without a properly constituted Audit Committee.
The statement, therefore, entreated all Internal Auditors across the country to support the inauguration for improved governance and effective use of public funds.