Internal Audit ensures judicious resource use

THE Chief Executive of the Forestry Commission (FC), Mr Afari Dartey, has deplored the perception of the role of internal auditors, saying it is a worrying trend.
He said the general perception that internal auditors are police personnel seeking to prosecute wrongdoers was wrong.
Rather, the work of the internal auditor was to review, appraise and report for managerial action, the soundness, adequacy and the effective application of internal controls.
Speaking at an Internal Audit Unit’s Capacity Development Workshop on Risk Management, Corporate Governance and Internal Controls organised for personnel of the Forestry Commission in Accra, Mr Dartey said risk management, corporate governance and effective controls were becoming increasingly important, especially after the experiences of some public institutions at the sittings of the Public Accounts Committee as shown by the national TV channels.
“We have learnt through the Internal Audit, revelations that nothing short of strong and effective leadership, good corporate governance and cooperation amongst staff throughout the divisions and units can mitigate such disasters in any meaningful manner”.
He explained that auditors were not to find fault but to look at the extent at which the organisation’s assets and interest were accounted for and safeguard them from lapses of all kinds arising from waste, extravagance, inefficient administration, and poor judgement.
The chief executive indicated that in addition to the above, internal auditors ensured the suitability, reliability and timeliness of financial and other management information developed within the organisation and also the extent to which employees’ actions were in compliance with policies, standards, procedures and applicable laws and regulations.
For his part, the Director-General of the Internal Audit Agency (IAA), Mr Ransford Adjei, advised all ministries, departments and agencies (MDAs) to have internal audit units in their outfits to prevent anomalies which created problems later.
Presenting a paper on “Risk Management, Corporate Governance and Effective Controls: The Role of Directors, Managers and Auditors”, the Honorary Secretary of the Institute of Internal Auditors, Mr Richard Ntim, said the workshop was to enable participants to appreciate their respective roles in risk management and control to ensure effective corporate governance.
He noted that the strategic objective of the FC was to secure a legal framework that liberated the organisation, develop a diversified portfolio of profitability revenue sources and also attract, develop and retain a well-motivated, skilled and efficient workforce.
He also indicated that there were plans for the commission to collaborate effectively with major stakeholders in an environment of mutual trust and respect and also develop least cost, which would lead to the development of organisational infrastructure that inspired value.