• About
  • Advertise
  • Privacy Policy
  • Contact
Tuesday, September 16, 2025
  • Login
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2DNew
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships
No Result
View All Result
The Vaultz News
No Result
View All Result

The internal audit is being restructured- IAA Board Chairman

October 11, 2021
Stephen M.Cby Stephen M.C
in Finance
0
Board Chairman of Internal Audit Agency (IAA), Joe Winful, has disclosed that the agency is being restructured to ensure it effectively discharges its duties

Board Chairman of Internal Audit Agency (IAA), Joe Winful.

Board Chairman of Internal Audit Agency (IAA), Joe Winful, has disclosed that the agency is being restructured to ensure it effectively discharges its duties.

Mr Winful revealed that the agency “has not been very effective” depite being in existence for sometime. This, he explained, is due to the absence of “independence and professionalism by the agency staff”.

According to him, the law responsible for setting up the agency structured it in a way that the internal audit unit are “controlled by those that are supposed to be checking”.

RelatedPosts

Banks Begin Deducting 5% on Dollar Withdrawals – Here’s Who Will Suffer Most

SIC-FSL MD Slashes Salary by 20% to Restore Stability 

UBA Integrates MoMo with Prepaid Cards for Seamless Transactions

“So, the internal audit as you see it today is being restructured. In other to carry out the restructuring effectively, we’ve got to have that law repealed and they are now in the process. It will have to go to the cabinet then from there it’ll go to the parliament for the repeal of that Act 6 (58). Other than that, it’s going to be very difficult because the internal audit staff will have to be very independent, fearless and then objective. Now, that has been absent to a large extent and that is why these loopholes are still in and the compliance is weak…”

Mr Joe Winful

In light of addressing the loopholes and corruption within some governmental institutions, Mr Winful also commented on the implication of some staff of the Ghana Revenue Authority for aiding businesses to circumvent acquisition of clearance certificates. He revealed that employees of the Authority must understand and ensure collection of revenue is “done properly”.

He explained that this will bring about efficiency in not only our revenue collection “but in the processes, we’ll follow to get to that end”. Mr Winful noted that in the “private sector” persons found to be complicit will be fired when discovered they are trying to “enrich” themselves.

Dealing with GRA staff complicit in corruption

Justifying his stance, the IAA Board Chairman explained that not all the amount collected by staff were paid into the “government’s chest”. As such, perpetrators cannot lay claim to “trying to help” government in revenue collection.

 “There were some of the amount [which] apparently ended up with the individual”.

Mr Joe Winful

Mr Winful emphasized that there were intentions on the part of some GRA staff to carry out such acts and as such called for their dismissal. Owing to this, he assented dismissing culprits of the crime will send out a signal to other staff that “they won’t get away with it if they practice that”. He also admitted that there is also a weakness within the whole process “of our revenue assessment and collection”.

The IAA Board Chairman indicated that there will be a need to review systems put in place by the Authority to find out the “weaknesses between the control mechanisms”. He also advised that “senior persons” must be held accountable as they are the ones charged with actually “providing oversight”.

“I don’t think it’s a major issue at the institution. Most likely, its just the tip of the iceberg and maybe we can say that it’s giving us the opportunity to look into the whole institution and see how best we can improve on what we are doing because it has repercussions on our development”.

Mr Joe Winful

Read Also: “Bring a good deal, and let’s work again” – Mzvee to Lynx

Tags: CorruptionGhana NewsGRAInternal Audit Agency
Please login to join discussion
Previous Post

Expand Ghana Gas to Take Advantage of Huge Quantum of Gas offshore- Energy Expert

Next Post

Private Investment in Africa Exceeding Expectations in 2021 – AVCA

[mc4wp_form id="1264"]

Related Posts

AMAA Country Director Apologises to Gloria Sarfo Over Flight Issues
Entertainment

Actress Questions Cinema Worthiness Of Some Movies

September 16, 2025
Alfred Tuah Yeboah
General News

Tuah-Yeboah Defends GBA Against Attorney General’s Criticism

September 16, 2025
Malawi Votes In High-Stakes Presidential Election
Africa

Malawi Votes In High-Stakes Presidential Election

September 16, 2025
Israel Strikes High-Rise Building In Gaza City Offensive
Asia

Israel Begins Ground Offensive In Gaza City

September 16, 2025
Picture of Ghanaian Lawyers
General News

Ghana Nears Big Legal Reforms, Set to Cut Legal Education to 4  Years

September 16, 2025
COMAC Condemns GH¢1 Fuel Levy Hike, Warns of Industry Fallout 
Extractives/Energy

Fuel Prices Set to Rise as Cedi Weakens – COMAC Outlook 

September 16, 2025
AMAA Country Director Apologises to Gloria Sarfo Over Flight Issues
Entertainment

Actress Questions Cinema Worthiness Of Some Movies

by Esther Korantemaa OffeiSeptember 16, 2025
Alfred Tuah Yeboah
General News

Tuah-Yeboah Defends GBA Against Attorney General’s Criticism

by Silas Kafui AssemSeptember 16, 2025
Malawi Votes In High-Stakes Presidential Election
Africa

Malawi Votes In High-Stakes Presidential Election

by Lawrence AnkutseSeptember 16, 2025
Israel Strikes High-Rise Building In Gaza City Offensive
Asia

Israel Begins Ground Offensive In Gaza City

by Comfort AmpomaaSeptember 16, 2025
Picture of Ghanaian Lawyers
General News

Ghana Nears Big Legal Reforms, Set to Cut Legal Education to 4  Years

by Evans Junior OwuSeptember 16, 2025
COMAC Condemns GH¢1 Fuel Levy Hike, Warns of Industry Fallout 
Extractives/Energy

Fuel Prices Set to Rise as Cedi Weakens – COMAC Outlook 

by Prince AgyapongSeptember 16, 2025
AMAA Country Director Apologises to Gloria Sarfo Over Flight Issues
Alfred Tuah Yeboah
Malawi Votes In High-Stakes Presidential Election
Israel Strikes High-Rise Building In Gaza City Offensive
Picture of Ghanaian Lawyers
COMAC Condemns GH¢1 Fuel Levy Hike, Warns of Industry Fallout 
[/vc_row_inner]

Recent News

  • Actress Questions Cinema Worthiness Of Some Movies
  • Tuah-Yeboah Defends GBA Against Attorney General’s Criticism
  • Malawi Votes In High-Stakes Presidential Election
  • Israel Begins Ground Offensive In Gaza City
  • Ghana Nears Big Legal Reforms, Set to Cut Legal Education to 4  Years
The Vaultz News

Copyright © 2025 The Vaultz News. All rights reserved.

Navigate Site

  • About
  • Advertise
  • Privacy Policy
  • Contact

Follow Us

Welcome Back!

Login to your account below

Forgotten Password?

Retrieve your password

Please enter your username or email address to reset your password.

Log In
No Result
View All Result
  • Top Stories
  • News
    • General News
    • Education
    • Health
    • Opinions
  • Economics
    • Economy
    • Finance
      • Banking
      • Insurance
      • Pension
    • Securities/Markets
  • Business
    • Agribusiness
    • Vaultz Business
    • Extractives/Energy
    • Real Estate
  • World
    • Africa
    • America
    • Europe
    • UK
    • USA
    • Asia
    • Around the Globe
  • Innovation
    • Technology
    • Wheels
  • Entertainment
  • 20MOBPL2D
  • Jobs & Scholarships
    • Job Vacancies
    • Scholarships

Copyright © 2025 The Vaultz News. All rights reserved.