Internal Audit

The Internal Audit Directorate (IAD) is required to undertake audits in line with the provisions of the Internal Audit Agency Act, 2003 (Act 658) Public Financial Management Act, 2016 (Act 921), Public Financial Management Regulation (PFMR) 2019 (L.I.2378), Internal Audit Regulation 2011 (L.I.1994) and in accordance with the Codes of Ethics of professional bodies of which they are members.

In line with Section 83(2) of the PFMA, the Director of Internal Audit has a dual reporting lines, i.e. reporting administratively to the Chief Executive Officer and functionally to the Audit Committee. The Directorate has a good working relationship with both the CEO and the Audit Committee in the discharge of our mandate.

The IAD is one of the key elements of good governance within FDA, with its mission as ‘To enhance and protect organisational value by providing risk-based and objective assurance, advice and insight to Management.’

The Internal Audit Directorate (IAD) was established in March 2004 upon the coming into effect of the IAA Act 2003. The Directorate consists of two departments namely Financial and Compliance Audit and Operational and Assurance Audit Departments.

Composition of the Team

Director

Edem Kofi Kugbey FCA,CA

Financial and Compliance Audit Department

Performance and Assurance Audit Department

Responsibilities of the Directorate:

The Internal Audit Directorate is responsible for the following:

1. Conducting financial and operational audits to ensure fiscal responsibility and compliance to regulatory as well as financial standards.