The Internal Audit Agency (IAA) was established under the Internal Audit Agency Act, 2003 (Act 658) to coordinate, facilitate and promote quality assurance for internal audit activities within Covered Entities Section 16 (3) of the Internal Audit Agency Act and Section 83 of the Public Financial Management Act 2016 (Act 921) requires Covered Entities to periodically submit various reports and plans to the Agency as an assurance that control systems in Covered Entities are working.
The required reports are:
1. Quarterly Internal Audit Reports
2. Annual Internal Audit Work plans within 30 days after the beginning of the financial year.
3. Annual Report of the Covered Entty’s Audit Committee on the Status of implementing recommendations from Internal Audit Reports, Parliament’s decision on the Auditor-General’s Report, Audit General’s management letter and other Monitoring Reports.
STATUS OF SUBMISSION
As at 31 December 2020, the following Covered Entities HAVE DEFAULTED in submitting the required reports to the Agency:
|NON-SUBMISSION OF QUARTERLY INTERNAL AUDIT REPORTS||NON-SUBMISSION OF 2020 ANNUAL INTERNAL AUDIT PLANS|
1. Ahafo Regional Coordinating Council
7. District Assemblies Common Fund (DACF)
9. Ghana Trade Fair Company Limited
19. Labour Department
23. Ministry of Chieftaincy and Religious Affairs
42. State interest and Governance Authonty (SIGA)
44.University of Development Studies (UDS)
|1. Accra College of Education
2. Birth and Deaths Registry
3. Bula North District Assembly
4. Central Tongu District Assembly
5. Cocoa Processing Company Limited
6. Council for Tertiary and Vocational Education Training (CETVET)
7. Department of Parks and Gardens
8. Electricity Company of Ghana Limited
9. Geological Survey Authority
10. Ghana Tourism Development Company Limited
24. Law Reform Commission
31. Office of the Administrator of Stool Lands
38. South Tongu District Assembly
42. Takoradi Technical University (TTU)
Affected Covered Entities are advised to submit the required reports to the Agency not later than 28 February 2021. Failure which appropriate actions required by the Public Financial Management (PFM) laws of Ghana shall be taken against them.
ISSUED BY THE INTERNAL AUDIT AGENCY
SOURCE: Daily Graphic
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