Business News of Wednesday, 2 March 2022
Source: www.ghanaweb.live
2022-03-02Names of institutions who fail to present reports to be published – Internal Audit Agency
Director-General of the Internal Audit Agency (IAA), Dr Eric Oduro Osae
Corrupt institutions to be dealt with, IAA
IAA to name and shame institutions who fail to submit quarterly reports - Dr.Osae
IAA to prosecute 3 state institutions for mismanaging COVID-19 funds
Director-General of the Internal Audit Agency (IAA), Dr Eric Oduro Osae, has stated that the agency will from March 2, 2020 begin the publication of institutions who
Read full articlehave not submitted their reports.
According to him, any such institutions that fail to adhere to the directive will be named and shamed.
Dr Oduro Osae was speaking at the Ghana Anti-Corruption Coalition public forum on the Accountability Gap in COVID-19 Responses of Ghana.
“We are ensuring compliance, we started with naming and shaming institutions that fail to submit their report. The law says we should submit four quarterly reports, in addition to that, at the end of the year you give us an annual performance report that is an internal audit performance report.”
The IAA Director General speaking further said institutions who have submitted their reports but were found with infractions of corruption and mismanagement will be duly dealt with by law.
“We have received all those reports, we have sent a team to the field to validate those reports in January. We have received the validated report, now those that have infractions in it that are of criminal nature, we are reviewing it. We have an internal review panel that are working on it.
Those institutions that failed to submit the reports we are publishing their names. From March 2, 2022, you’ll see it in Daily Graphic.”
After the publication we are working with the ministry of finance to apply administrative functions. You may have heard the Auditor General’s office is also working towards applying the powers given to them: the disallowance and surcharges powers given to them. They are also working on that,” he added.
Meanwhile, Dr. Oduro noted that, “the challenge with this is that, in a democratic system you make sure you exhaust everything so when you send the person to court your secure conviction. And that is exactly what we are doing. We will make sure that people comply.”
However, the IAA said it is collaborating with the Economic and Organised Crime Office (EOCO) to fast track processes for prosecution of three state institutions for the misappropriation of COVID-19 funds.
Back in 2021, the IAA said it started to receive internal audit reports from internal auditors as far as the Covid-19 expenditure audit is concerned.
“We started reviewing them in 2021 and some of the expenditure areas were revealing. Areas where we have challenges, we do a follow up. A team is sent to the field to go and validate.”