Background of Internal Audit Unit
As part of reforms under the Public Financial Management Reform programme in Ghana, the Internal Audit Agency was established. The Agency which is located in Accra is mandated for the oversight responsibility over the activities of all internal audit units in the public sector of which Metropolitan, Municipal and District Assemblies (MMDA’s) were no exception.
The Internal Audit Act specifically requires the establishment of Internal Audit Units in all MMDA’s in Ghana. Bekwai Municipal Assembly which was among the first MMDA’s to create internal Audit Unit was established in June, 2003 with one Staff.
Before the coming into force of the Internal Audit Act, Act 658 of 2003, the internal audit function was partly performed by the Local Government inspectors in the Assemblies as an additional role until late 2003 when the internal audit function was duly separated from the local government inspector’s role.
The Internal audit unit of Bekwai Municipal Assembly can now boast of three permanent staff and two national service staff posted to the unit each year with a milestone in financial management transformation.
The prime objective of the internal audit unit is to help management achieve its overall objectives. This is achieved by performing the following functions which includes the following:
- Safeguard assets of the Assemblies;
- Develop risk assessment;
- Review policies and procedures of the Assembly;
- Audit functional areas of the Assembly and issue audit reports;
- Review internal controls and analyze them in terms of cost and benefits;
- Appraise the economy, efficiency and effectiveness with which resources are employed;
- Reviews operations or programmes to ascertain whether results are consistent with established objectives.
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