A five-member Audit Committee for the University of Environment and Sustainable Development (UESD) has been inaugurated at a brief ceremony at the institution’s Council Chamber. It was witnessed by the Vice-Chancellor of UESD, Prof. Eric Nyarko-Sampson and some Management members of the University.
The inauguration is in line with the Internal Audit Agency Act 2003 (Act 658) and Section 30 of the Audit Act, 2000 (Act 584). Members are mandated to audit the financial accounts and expenditures of the University.
The Committee is made up of representatives from the Internal Audit Agency (IAA),the Institute of Chartered Accountants Ghana and the Principal Account Holder (Sector Minister). It has Mr. Edward Langmatey (rep. from I.A.A.)as Chairman and Mrs. Mary Abena Agyepong, (UESD Registrar), as Secretary.
The other members are: Mrs. Mary Larmie – I.C.A Rep, Mrs. Philomina Sueley Max-Bobie – I.A.A Rep, Dr. Jemima Anderson and Ing. J. Twumasi, UESD Council reps. The members took the oaths of Secrecy and Office administered virtually, by the Deputy Director-General of the Ghana Internal Audit Agency(IAA), Mr. William Offei-Mensah.
It has as co-opted members of the Committee, the Vice-Chancellor of the UESD, Prof. Eric Nyarko-Sampson, the Director of Internal Audit, Dr. Emmanuel Opoku-Ware and the Director of Finance, Mr. Baffuour Awuah Kwabi.
In an address, Mr. William Offei-Mensah said, Public Financial Management systems are key to transparent and accountable governance. He said, a country without an effective Public Financial Management system risks underdevelopment due to loss of public funds. This is why the establishment of the Committee is very crucial.
He stated that, the Committee is to among other things, provide advisory roles and support to the Internal Audit Unit, support the UESD Management and all key stakeholders to execute their mandate towards accomplishing the efficient management of public funds.
Mr. Offei-Mensah urged the members to bring their professional expertise and experience to bear on the work of the Committee and advised them to follow all the statutory regulations of the Act.
In his acceptance speech, the Chairman of the Committee, Mr. Edward Langmatey thanked Management for the confidence reposed in him and his colleagues to serve. He pledged the Committee’s determination to adhere to all issues regarding Audit and to provide its advisory services to Management in terms of Risk Management, Internal Controls and other issues within its purview.
The Vice-Chancellor of UESD, Prof. Eric Nyarko-Sampson who was the chairman of the occasion said, for any institution to be successful, due process must be followed in the procurement of goods and services as stipulated in the Public Procurement Act and other laws governing spending in public institutions in the country.
He underscored the importance of the Audit Committee of the University to monitor its activities and ensure established controls are working as intended.
Prof. Nyarko-Sampson tasked members of the Committee to bring on board their professional experience, a key ingredient necessary for the development of the University.