Kufuor calls for proactive, dynamic internal audit systems

Accra, May 13, GNA - President John Agyekum Kufuor on Friday stressed that pro-active and dynamic Internal Audit Units were vital for enhancing good governance and development of the country. In an address read for him by Mr. Albert Kan-Dapaah, Minister of Communications, at the inauguration of the Institute of Internal Auditors (GHANA), the President said internal audit processes served as important early warning signal to government of various weaknesses in financial administration and management systems. "The reports from such internal audits also give assurance that the working mechanisms in place are adequate to ensure good performance," he said.

The Institute, formed in April 2001, is dedicated to the promotion and development of the capacities of professionals, enforcing ethics and setting up standards for practice of internal auditing and certification.

President Kufuor said rapid changes in business management style required that internal auditors had skills to be able to detect problems and set up corrective measures.

"Internal Auditors must be both good managers and communicators to be able to confront the current trends in the global management and financial systems," he said.

He urged the Council of the Institute to ensure that the contents of their educational programmes met with the current challenges and that auditors were provided new tools and techniques essential to enhance performance.

Besides the auditors must also stick to the ethics of integrity, discipline and professionalism.

"This is the only way you can become relevant and make an impact on public policies," the President said. Mr John Djanie, President of the Institute, said members would maintain their technical competence through continuous education to equip members to deliver efficient service.

He announced plans in conjunction with the Global Headquarters of the Institute in Florida to make Ghana an International Examination Centre by the end of 2006 to enable the country to turn out professionals to meet the demand of both public and private sector managers.