The Internal Audit of the University of Mines and Technology has been awarded the Best Internal Audit Unit for the Tertiary Category at the 2023 Annual Internal Audit Conference held at the UPSA on 15th September, 2023. The conference which was held under the theme, “20 Years of Internal Audit Practice in Ghana: Achievements, Challenges and Way Forward” commemorated the 20th Anniversary of the passage of the Internal Audit Agency Act. 2003 (Act 658).
The University of Mines and Technology Internal Audit Unit won the Best Internal Audit Tertiary category for its timely and consistent submission of internal audit plans and reports, continuous drive for quality, penchant for learning new methodologies, and teamwork among staff of the Unit, unravelling internal control breakdowns and follow-ups on recommendations and support to Management.
In the welcome address during the opening ceremony, the Chairperson of the conference, Dr Mrs Janet Ampadu Fofie, recounted the evolution of Internal Audit Practice in Ghana over the past 20 years, and the expectations of the Practice in subsequent years. She mentioned that in order for public institutions to manage public resources effectively, internal auditors should be prescient, work with stakeholders to identify and recognise early indications of challenges, and also, assist in developing long-term solutions. By so doing, Dr Fofie believed that corruption would be minimised.
The Director General of the Internal Audit Agency, Dr Eric Oduro Osae, detailed the achievements of the Agency and strategies for restructuring and repositioning the Internal Audit Practice. He commended internal auditors for their unwavering commitment towards ensuring transparent, accountable and efficient use of public funds across the public sector in Ghana amidst the many challenges they face.
Speaking on progressive strategies for internal audit practices in Ghana, Ms Sena Dake, President of the Institute of Chartered Accountants Ghana (ICAG), and Nii Asafoatse Abbey, Director Associate at Deloitte shared knowledge on the topics ‘Contemporary Legal and Professional Requirements of the Modern Internal Auditor’ and Leveraging on Artificial Intelligence (AI) for Effective Internal Auditing in Ghana respectively.
The Senior Presidential Advisor and Guest of Honour for the conference, Honourable Yaw Osafo-Marfo, as the initiator of the Act, expressed excitement at his participation in the commemoration of the 20th Anniversary. Hon Osafo Marfo stated that two decades of Internal Audit Practice in Ghana has yielded sustainable results.
Present to receive the award on behalf of the University were the Pro Vice Chancellor, Professor Anthony Simons, the Internal Auditor, Mr Samuel Effah, Chairman of the University’s Internal Audit Committee, Mr Nathan Ekow Yankey, and other officers of the University.