Ghana's Finance Ministry has inaugurated a nine-member Governing Board for the Internal Audit Agency (IAA). This action aims to strengthen public financial management and curb recurring audit infractions across the public sector.
The newly formed board will spearhead critical reforms within the Agency. These reforms include reviewing the Internal Audit Agency Act, 2003. The board will also implement new measures to enhance compliance, improve risk management, and ensure value-for-money auditing in state institutions.
This initiative aligns with broader efforts to improve financial discipline in Ghana. The government seeks to address weaknesses often highlighted in Auditor-General’s reports. These reports frequently detail financial irregularities and inefficiencies in public spending. For example, recent Finance Ministry data showed GHS 24 billion of Ghana's 2026 Q1 budget remained unspent due to revenue shortfalls. This highlights the urgent need for better financial oversight.
Speaking at the inauguration, Finance Minister Dr. Cassiel Ato Forson emphasized the importance of a strong internal audit system. He clearly stated this system is vital for safeguarding public resources. Dr. Forson also highlighted its role in restoring confidence in Ghana’s public financial management framework. He lamented the high level of waste within the public sector, stating, “the Ghanaian taxpayer is losing too much.”
The Minister urged the board to promote accountability by sanctioning internal auditors who fail in their duties. Sanctions could include withdrawing professional licenses. He also announced plans to establish an “Auditors’ Court.” This court would strengthen oversight of internal auditors and enhance transparency within the profession. Dr. Forson assured the Board of government’s full support for their efforts. He told board members, “Your success must be reflected in the Auditor-General’s report.”
Professor Joshua Yindenaba Abor, the Board’s Chairman, thanked the Ministry for its confidence. He pledged the board's commitment to strengthening the Agency’s mandate. He described the appointment as a “noble call to duty.” The board will work diligently to promote accountability and prudent management of public resources. This commitment is crucial as Ghana continues its economic recovery efforts. These efforts rely on sound financial management and reduced public sector waste.
The board comprises professionals from various fields, including finance, accountancy, and auditing. Mr. Thomas Ashaley Thompson-Aryee, the Director-General of the Internal Audit Agency, is also a member. Their collective expertise is expected to bring significant reforms to public financial oversight.