Ghana’s Internal Audit Revamp: Dr. Oduro Osae pushes for global standards in public sector governance

Dr. Eric Oduro Osae, Director-General of the Internal Audit Agency (IAA), called for bold reforms at the 2024 Internal Audit Charter Alignment Workshop in Greater Accra, urging public sector internal auditors to align fully with the newly introduced Global Internal Audit Standards (GIAS) to boost governance and service delivery.

In his powerful address, Dr. Osae reflected on the progress internal auditors have made in strengthening Ghana’s public financial management over the last 20 years.

He highlighted key accomplishments such as the adoption of a risk-based audit system, the automation of internal audit processes, and the establishment of professional audit committees across public institutions.

However, he emphasised that continuous adaptation is necessary to ensure the profession stays ahead in an ever-evolving environment.

A pivotal part of the workshop was the revision of internal audit charters across public sector institutions to meet the GIAS. With a template developed by the IAA, all public institutions are required to submit revised charters by December 31, 2024, to ensure compliance with global standards by January 2025.

Looking ahead, Dr. Osae outlined several initiatives designed to further modernise Ghana’s internal audit system, including performance audits and the introduction of a Public Financial Management (PFM) Compliance League Table to track adherence to financial regulations.

Dr. Osae concluded with a call to action: “Let us use our God-given talents for the benefit of Ghana, ensuring that our public financial management systems are globally recognised for their excellence.” His vision for Ghana’s internal auditing system aligns with global best practices, fostering transparency, accountability, and effective governance.