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\nIn his statement, the Honourable Eastern Regional Minister, Mr. Seth Kwame Acheampong reiterated the importance of reducing waste in the management and utilization of public funds in the country\u2019s quest to build a sustainable economy. \u201cTo build a sustainable economy, we need to ensure value for money in our financial transactions and management of public resources as far as practicable\u201d, he noted.
\nHon. Acheampong further entreated the management of the various Municipal and District Health Directorates and the Hospital Management to provide adequate support to the Audit Committees to enable them to function effectively and efficiently to prevent infractions before the External Auditors commence their work; adding that, \u201cit is disheartening to see a public service institution appear before the Public Accounts Committee of Parliament just for a little avoidable audit infraction\u201d.
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\nConsequently, he reminded the Committee Members to be mindful of the oath they had sworn and urged them to uphold a high sense of confidentiality and ensure that information brought to their attention was handled professionally, trusting that they would be firm, resolute, sincere, independent and honest in the discharge of their duties.
\nIn a speech read on his behalf, the Director-General of the Internal Audit Agency, Dr. Oduro Osae stressed the importance of the Audit Committee as indicated in Section 86 of the Public Financial Management (PFM) Act, 2016, (ACT 921) which requires that Audit Committee be established in all government institutions to strengthen transparency, good governance and accountability within the service.
\nHe stated that the Audit Committee provides three major roles which are Mandator, Advisory, and Supporting. On mandatory roles, he indicated that the Committee is required to assist Management to pursue the implementation of recommendations contained in the Internal and External Audit Reports and is not negotiable as stated in section 88 (1) of the PFM Act. The advisory roles and responsibilities include advice on internal controls, risk management, and governance processes.
\nIn conclusion, the Director-General of the Internal Audit Agency encouraged the Committee members to equip themselves with the relevant laws, as well as bring to bear, their professional knowledge and expertise on the work of the Committee in order to ensure value for money.<\/p>\n","protected":false},"excerpt":{"rendered":"