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Give value for money – Energy Minister charges new Audit Committee

Energy Minister, Boakye Agyarko has charged the new Audit Committee for the energy ministry to commit itself to giving value for money as it commences its work.

As part of fulfillment of provisions of Section 86 of the Public Financial Management Act 2016 (Act 921), the Minister on Friday, June 2, 2017 inaugurated a five member committee.

The committee’s mandate is among others mandated to ensure that the ministry complies with all audit long procedures and duly follow recommendations on Auditor General’s reports.

Speaking at a short ceremony at the ministry, Mr. Agyarko was also confident the committee will help protect the public purse.

“Generally, audit committee serves as a link in the communication network between internal and external auditors and administrative management. The general duties of audit committee include the overall scope of audit, results of audit and internal financial control,” the Minister stated.

“I am inclined to believe that some of you have been involved in the work of the erstwhile audit report implementation committee and for that matter, I do not need to belabour the importance of the audit committee,” Mr. Agyarko added.

The audit committee is also mandated to ensure that the entity to which it is related, pursues the implementation of any recommendation contained in an internal audit report, Parliament’s decision on the Auditor-General’s report and the report of an internal monitoring unit in the covered entity concerned particularly in relation to financial matters raised.

The members of the committee are; Boakye Agyarko, Energy Minister; Prof. Thomas Akabzaa-Chief Director; Mr. Benjamin Adjetey -Representative Institute of Internal Auditors.

The others are; Mrs Patience Austin – Representative Internal Audit Agency as well as Mr. Augustine Addo – Representative ICA Ghana.

Source: http://citibusinessnews.com/index.php/2017/06/03/give-value-for-money-energy-minister-charges-new-audit-committee/

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Reporting Oil and Gas project was launched on 4th June 2009atTakoradi, Western Region, Ghana by Penplusbytes (PPB – www.penplusbytes.org) with the vision of providing a one stop online information and knowledge about Ghana’s oil and gas sector
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