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Identify Risks And Weaknesses In Public Economic Management – Bawumia To Auditors

Internal Auditors have been charged to leverage on government’s digitalisation agenda to identify risks and weaknesses in public economic management to provide timely advice and commendations to curb corruption.

Vice President Mahamudu Bawumia gave the advice at the 2022 Annual National Internal Audit and Governance Conference in Accra on Thursday.

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The conference, organised by the Institute of Internal Auditors Ghana was on the theme, “Elevating Impact in Digitalised Economy,” which enabled them to share innovative ideas and proffer solutions towards ensuring transparency and accountability in public fiscal management.

Vice President Bawumia entreated Internal Auditors to see themselves as digitalisation champions in their respective institutions and help ensure a sound economy.

He noted that Internal Auditors played a critical role in Public Financial Management and in protecting the public purse and, should therefore, identify risks, opportunities, and control measures to prevent the State from losing funds.

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“The Internal Audit profession has evolved over the years. The techniques of internal auditing have changed from a reactive and control-based form to a more proactive and risk-based approach.

“This enables the internal auditor to anticipate risks and opportunities and provide assurance,
advice and insight where most appropriate,” Dr Bawumia added.
He said building strong systems and institutions would help promote efficiency and
transparency in the public sector.
Dr Bawumia said government’s digitalisation initiatives such as the National Identification System that issued Ghana-Card to the citizens, National Digital and Property Addressing System, Mobile Money Interoperability Payment System, e-ticketing and Ghana.gov portal was helping to curb corruption and promote transparency and accountability in the public sector.

He believed the integration of those institutions would help generate the necessary data to support decision-making and policy interventions for accelerated national development. The Vice President advised boards and heads of institutions, both in the private and public sector, to provide the necessary training and IT infrastructure to enable internal auditors add value in the digitalised environment.

Harriet Akua Karikari, President of Institute of Internal Auditors Ghana, in her welcome remarks, said the conference would enable internal auditors to share innovative ideas and insights to elevate the profession and contribute their quota towards national development.

She said the Institute had adopted digitalisation and technological solutions in its operations and governance structures to promote efficiency.

The use of artificial intelligence, data mining and data analytics were norms with a significant impact on how organisations operate and, would, therefore, take advantage to enhance public fiscal management and accountability, she said.

Mrs Karikari gave the assurance that the Institute would provide an independent assessment to
senior-level government officers to facilitate decision-making in a digitalised environment.

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Shadow a.k. Thomas Evans Selah-Ahegbebu is an avid writer of entertainment and life style stories. I love to meet and learn new ways of doing things. Topics of interest are; Medicine, Entertainment & Life Style

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