1. Sections 86-88 of Public Financial Management Act 2016(Act 921) requires Covered Entities including Metropolitan, Municipal and District Assemblies (MMDAs) and Regional Coordinating Councils (RCCs) to have Audit Committees to support them implement and adhere to sound financial controls and systems in the use of public funds.
2. It has however come to the attention of the IAA that, most MMDAs and RCCs are currently functioning without properly constituted Audit Committees (due to expiration of tenure after exhausting the two-term mandatory period provided for by the PFM Act).
3. The IAA ,established by the Internal Audit Agency Act, 2003(Act 658) is mandated under the Guidelines for Effective Functioning of Audit Committees(2017) issued by the Minister for Finance to ensure that Covered Entities have functioning Audit Committees.
4. Considering the important corruption prevention role of Audit Committees established under Sections 86-88 of the PFM Act 2016(Act 921) in the financial governance of RCCs and MMDAs including pursuing Management to implement recommendations and producing annual status of implementation report on reccommendation contained in:
a) an internal audit report;
b) Parliament’s decision on the Auditor-General’s report;
d) the report of the internal monitoring unit (D/MPCU or RPCU) particularly, in relation to financial matters raised.
5. The IAA in collaboration with the RCCs is undertaking a mass inauguration of new Audit Committees for all RCCs and MMDAs across the country.
6. The event will take place from 6th-13th June 2022(Schedule attached) at the respective RCCs .
8. It must be noted that, it is an offence under Section 98(1d) of the PFM Act 2016 (Act 921) for a Local Government Authority(RCC or MMDA) or a Covered Entity to operate without a properly constituted Audit Committee.
9. The IAA entreats all and sundry especially, Internal Auditors across the country to support the inauguration for improved governance and effective use of public funds.
For further details or clarity on this Press Release, please contact Ms. Pamela Osei
Agyekum (Board Secretary, IAA) or Ms. Bernice Lamptey (Head Communications, IAA) on telephone numbers 0242-032796 and 0548-763593 respectively.
DATES FOR THE MASS INAUGURATION OF AUDIT COMMITTEES
DATE ZONE VENUE REGIONS WITHIN THE ZONE
6TH JUNE. 2022
ZONE 1 UPPER WEST RCC-WA UPPER WEST UPPER EAST RCC-
ZONE 2 BOLGATANGA UPPER EAST, NORTH EAST
ZONE 3 NORTHERN RCC-TAMALE NORTHERN, SAVANNAH
ZONE 4 WESTERN RCC-TAKORADI WESTERN, WESTERN NORTH
8TH JUNE, 2022
ZONE 5 VOLTA RCC-HO VOLTA REGION
ZONE 6 OTI RCC-DAMBAI OTI REGION
ZONE 7 ASHANTI RCC-KUMASI ASHANTI REGION
9TH JUNE, 2022
ZONE 8 BONO RCC-SUNYANI AHAFO, BONO, BONO EAST
10TH JUNE, 2022
ZONE 9 CENTRAL RCC-CAPE COAST CENTRAL
ZONE 10 GREATER ACCRA RCC GREATER ACCRA
13TH JUNE, 2022
ZONE 11 EASTERN RCC-KOFORIDUA EASTERN REGION