Following the adoption of the Global Internal Audit standard by Ghana, all public institutions are expected to fully adopt the new standard, not later than January 9, 2025.
Speaking at the opening ceremony for a two-day training for head of internal audit unit in public institutions in Accra, the Director-General for the Internal Audit Agency, Dr. Osae Oduro explained that the Global standard that has been adopted will help state institutions spend within their budget and also use funds for its specific purposes.
He noted that this will promote public discipline to reduce corruption.
The training was held concurrently at two venues in Accra, and it’s expected to be held in other regions too. Some institutions whose internal auditors were present included, Minerals Commission, Water Resources Commission, National identification Authority, GNPC, Gaming commission, among others.
“IAA has announced to all stakeholders, including Internal auditors, Heads of Internal Audit Units, and Audit Committees of public institutions, the release of the Standards by the IIASB, and the national adoption of same and new IPPF for Public Sector Internal Auditing in Ghana in accordance with the IAA Act 2003 (Act 658)”, this was contained in a statement signed by the Board Chairman, J.B. Winful on 22nd February.
“The standards should be referenced as Standards developed by the IIA Global, for application by internal auditors in professional practice across the world and in all sectors and nationally adopted for application by Internal Auditors in Ghana”, the statement said.
The two-day training is to sensitize actors on the GIAS adoption and mainstreaming process.
“All Public sector Internal Auditors are encouraged to ensure that their practices are in accordance with the new GIAS”, the DG said.