In a landmark achievement, Ghana’s Parliament has been adjudged the best among the three arms of government—Legislature, Executive, and Judiciary—in the performance of its Audit Committee.
The recognition was announced by Dr Eric Osae, Director-General of the Internal Audit Agency (IAA), during a ceremony at Parliament House to present the award to the Speaker, Rt. Hon. Alban Sumana Kingsford Bagbin, along with the Board and Management of the Parliamentary Service.
Dr Osae outlined the rigorous criteria used in evaluating the Audit Committees of the three arms of government. These included the frequency of meetings between the heads of the three arms and their respective Audit Committees, the degree of collaboration between Audit Committees and management in implementing recommendations from both internal and external audit reports, and capacity-building initiatives for internal auditors and Audit Committees.
According to Dr Osae, Parliament emerged as the top performer primarily due to the exceptional leadership of Rt. Hon. Speaker Bagbin.
He indicated that the Speaker met with the Audit Committee on multiple occasions in a year—three times, a record far surpassing his Executive and Judiciary counterparts.
This active engagement, Dr Osae noted led to significant improvements in the control systems and financial management processes within Parliament.
“Apart from that, he insists on getting the Clerk to Parliament to implement recommendations. The Clerk and the Deputy Clerks were always implementing recommendations and they have improved the control systems and financial management system of the organization if you compare to the three arms of Government. So then we realized that they are up there”.
Dr Eric Osae, Director-General of the Internal Audit Agency (IAA)
Dr. Osae further added that the Speaker of Parliament’s commitment to financial oversight has placed Parliament ahead of the other arms of government in terms of audit committee management.
This accolade, he noted comes on the heels of an earlier recognition of Rt. Hon. Bagbin for his leadership in promoting financial discipline within the Parliamentary Service.
Dr. Osae noted that the Speaker’s insistence on accountability and transparency in financial matters has contributed significantly to Parliament’s top ranking in the recent assessment.
Speaker Bagbin’s Acceptance Speech
In his acceptance speech, the Speaker of Ghana’s Eighth Parliament, Rt. Honourable Alban Sumana Kingsford Bagbin expressed deep gratitude to the Internal Audit Agency and the Parliamentary Audit Committee, acknowledging the challenges that Parliament had faced in the past regarding financial oversight.
He highlighted that the establishment of the Audit Committee under his leadership has proven to be a critical tool for good governance.
“Parliament must not only exercise oversight responsibility over the Executive but must also set the standard by doing the right thing internally,” the Speaker asserted.
Speaker Bagbin also made a significant announcement that, for the first time in Ghana’s history, Parliament would lay its annual reports, including audit reports for the years 2021, 2022, and 2023, before the House.
This unprecedented move, according to the Speaker, would mark a remarkable improvement in the transparency and fiscal responsibility of Parliament and place Ghana among the best in Africa in terms of financial openness.
“We look forward to this historic moment,” Speaker Bagbin remarked, adding that it would serve as a testament to Parliament’s commitment to fiscal transparency.
He further urged management to institutionalize mechanisms that ensure future Speakers continue this initiative, as it serves as one of the best ways to prevent financial wastage and malfeasance within Parliament.
Mr. Cyril Kwabena Oteng Nsiah, the Clerk to Parliament on his part, commended the IAA for their support and guidance, crediting the Speaker’s active involvement as instrumental to the Parliamentary Service’s achievement.
The Clerk promised that management would continue to uphold the principles of good corporate governance and adhere to best practices in financial management.
The Audit Committee of the Parliamentary Service is composed of a distinguished team, including Mr Fiifi Kwakye, Chairman; Dr Eric Osae, member; and Dr Cynthia Sallah, a representative from the Institute of Chartered Accountants Ghana, who is also a member.
Other members include Mr Ebenezer Ahumah Djietror, Deputy Clerk to Parliament, Mr Daniel Chirawura, Coordinating Director-Finance, and Nana Tawiah Okyir, Director of Legal, who serves as Secretary of the Audit Committee of the Parliamentary Service.
The recognition of Parliament’s leadership in audit committee performance is seen as a significant milestone in strengthening financial oversight, and a testament to the Speaker’s dedication to ensuring accountability and transparency within one of the key arms of government.
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