The Internal Audit Agency (IAA) has launched two documents to promote professionalism in audit practice in the public sector.
The documents are the 2025 revised Risk-Based Internal Audit (RBIA) Manual and the 2025-2028 Strategic Plan.
The Director-General of the Internal Audit Agency, Dr Eric Oduro Osae, said the development of the two documents had become necessary to meet current needs and the changing dynamics of audit practice.
He explained that the RBIA Manual had been revised to reflect best global practices, including the 2024 Global Internal Audit Standards of the Institute of Internal Auditors, the ISO 31000:2018 Risk Management Standard, and the Committee of Sponsoring Organisations’ 2013 Internal Control Framework.
“This manual provides a structured methodology for internal auditors to assess, mitigate, and report on risks in public sector institutions, ensuring that resources are utilised effectively and for their intended purposes,” he stated, adding that “the manual documented the standard practice requirements of all internal auditors provided guidance in audit practice in the public service.”
Dr Osae emphasised that the manual also introduced consistency in internal audit practices across the public sector and ensured that internal audit activities in the public sector aligned with global standards.
Furthermore, Dr Osae stated that the new manual took into account the country’s Public Financial Management laws and the new global auditing standards.
“The adoption of the new standards has the potential to strengthen Public Financial Management systems, promote accountability and improved financial governance, reduce corruption using a preventive approach, and enhance value for money in public administration,” he explained.
Dr Osae then urged audit professionals in the public sector to commit to the principles of integrity, professionalism, and accountability in the country’s quest for effective public financial management.
On the strategic plan, Dr Osae mentioned that it provided a professional blueprint to guide efforts to professionalise internal audit practice in Ghana’s public sector.
He explained that the plan was based on five pillars, including building and strengthening institutional capacity, enhancing the human and logistical resources of the IAA for effectiveness, improving internal audit practice for effective Public Financial Management, and strengthening the internal audit function across public institutions.
The former Board Chairman of the IAA, Joseph Winful, added that the implementation of the plan would also enhance value for money in government business.
The President of the Institute of Internal Auditors, Joseph Dakora Zumasigee, commended the IAA for developing the manual and strategic plan, describing it as a significant achievement.
He said that Ghana had made notable progress in internal audit practice within the sub-region.
The IAA was established under the Internal Audit Agency Act 2003 (Act 658) to exercise oversight and regulate internal audit practice in Ghana’s public sector. It achieves this by coordinating, facilitating, quality-assuring, setting standards, and providing guidance to public sector operators.
BY KINGSLEY ASARE
