Internal auditors saved most businesses from collapse during pandemic – Eric Oduro Osae

The Director-General of the Internal Audit Agency at the Presidency, Dr. Eric Oduro Osae, has attributed the survival of most Ghanaian businesses from the devastation unleashed globally by COVID-19 to the competence of internal auditors.

According to him, but for the pre-emptive foresight of the country’s internal auditors, the number of businesses that would have folded up during the height of the pandemic would have been uncountable – dealing a devastating blow to the recovery effort.

“When we had COVID, which is still with us, businesses collapsed in other countries. [But] in Ghana most of the businesses survived, and it is because of internal auditors.

“Internal auditors are trusted advisors. Internal auditors are the backbone of public sector development. They are people without whom nations cannot develop and businesses cannot stand on their feet,” Dr. Oduro Osae stated during the launch of the rebranded logo of the Institute of Internal Auditors, Ghana (IIA) this week.

Rebranded IIA Ghana

Commenting on the Institute’s rebranding, Dr. Oduro Osae said the move will ensure IIA Ghana keeps pace with global demands; which will allow it to reposition and restructure itself to empower its members to continue giving on-the-spot assurances and advisory services.

“From the internal auditors’ agency point of view, a nation with internal auditors lacking professionalism is flawed. That is why the institute of internal auditors is very important; because whether you operate in the private sector or the public sector, the practice of internal auditing is a high-level activity that requires some level of professionalism, some level of expertise, some level of tact – and this can only be given by a professional institution like the Institute of Internal Auditors,” he said.

He assured the Institute of his outfit’s continuous partnership to ensure internal auditors live up to expectations, as well as work on getting the necessary legislation passed to have the IIA’s activities properly rooted in law.

Elevating impact

President of IIA Ghana, Harriet Akua Karikari, said the institute is progressing, changing, evolving; thus the need to rebrand.

“The branding is to change the way we present the institute visually. The new look provides a fresh, clean, and confident feel without sacrificing any of our rich traditions,” she explained.

For her, the modernised logo, colours, tagline, website, and communication reflect the Institute’s new identity.

Touching on the tagline, which is now ‘Elevating Impact’, she said the IIA “is elevating the impact of its members through a vast network of professionals with expertise, knowledge-sharing, training, and globally-accepted designations.

“The profession is elevating its impact in organisations around the world by foreseeing risk and providing insight, with the aim to drive action and success. We seek to have one voice and tone by being active, empowering, concise, inspiring, clear, and confident,” she added.

She assured that IIA Ghana will continue empowering internal auditors to accelerate their value and impact on their careers, on their employers, and on their profession.