The Ministry of Finance has inaugurated a nine-member governing board for the Internal Audit Agency (IAA) with a sweeping mandate to revise the Agency’s founding legislation, enforce professional sanctions against underperforming auditors, and dramatically reduce waste in public financial management.
At the ceremony in Accra on Monday, Finance Minister Dr. Cassiel Ato Forson declared that recurring audit infractions highlighted in the Auditor‑General’s reports reflect deep weaknesses in Ghana’s accountability systems—weaknesses the newly constituted board is now tasked with fixing.
“The level of waste is too high, and the Ghanaian taxpayer is losing too much,” Dr. Forson told the gathering. “We must turn the Internal Audit Agency around and restore it to the purpose for which it was established.”
The board, composed of experts in internal auditing, accountancy, finance, and human resource management, has been directed to implement major reforms, including a comprehensive revision of the Internal Audit Agency Act of 2003. The move forms part of a broader government effort to strengthen fiscal governance, improve value for money, and ensure compliance and effective risk management across the public sector.
Dr. Forson did not mince words about the consequences for internal auditors who fail to perform their duties. He urged the board to put in place measures that would allow for sanctions, “including the possible revocation of their licences where necessary.”
The Minister also announced plans to establish a new oversight mechanism tentatively called an “Auditors’ Court.” While details remain under development, the court is intended to enhance supervision of internal auditors and promote greater public scrutiny and accountability in the audit process.
“Your success must be reflected in the Auditor‑General’s report,” Dr. Forson told the board members, linking their performance directly to the quality of the nation’s external audit findings.
In addition to enforcement measures, the Minister called for robust professional development programmes for IAA staff, saying auditors must be better equipped with the skills and knowledge needed to maximise their effectiveness.
Responding on behalf of the board, Chairperson Professor Joshua Yindenaba Abor described the appointment as “a noble call to duty.” A qualified accountant and professor of finance with expertise in development finance and economic research, Professor Abor pledged that the board would work diligently to strengthen the agency and ensure value for money in the management of public resources.
“We are committed to promoting accountability,” he said.
The Governing Board members are:
· Professor Joshua Yindenaba Abor – Chairperson (Financial Economist, Qualified Accountant, Professor of Finance)
· Mr. Benjamin Adjetey Sowah – Director, Budget Division, Ministry of Finance
· Mr. Divine Yao Ayidzoe – Director, Ministry of Local Government, Chieftaincy and Religious Affairs
· Dr. (Mrs.) Irene Stella Agyenim-Boateng – C‑Suite Executive and Human Resource Practitioner
· Mr. Thomas Ashaley Thompson-Aryee – Director‑General, Internal Audit Agency
· Mr. Daniel Ofosu – Spanning Investor
· Dr. Isaac Nyame – Managing Director, Ikern Associates Limited and Ikern Chartered Accountancy
· Mr. Kwesi Esso Thomas – Chief Executive Officer, Chamber of Pension Trustees
· Mr. Godfred Ashiagbor
The Minister assured the board of the government’s unwavering support in carrying out its mandate, adding that the goal is to leave the Agency “stronger, more independent, and more impactful.”
— Reporting from Accra
