By Emmanuel AKOMEA
The Vice-Chancellor of Methodist University Ghana, Prof. Philip Ebo Bonzi-Simpson, has charged Internal Auditors to heighten vigilance in their profession to prevent corporate failure.
According to him, being more vigilant and diligent in their oversight responsibilities can reduce the cases of corporate failure and malpractice. He indicated that the need for proactive measures and thorough scrutiny in audit processes is a key strategy to mitigate risks and enhance organisational resilience that cannot be undermined.
“If our audit committees and internal auditors had been as vigilant and diligent as expected, 90 percent of the cases that we see involving corporate failure, wastages and leakages and graft in our corporate bodies and public sector would not have happened,” he noted.
Speaking at the opening ceremony of the 2024 National Internal Audit and Governance Conference in Accra on the theme ‘Beyond Boundaries: Navigating New Frontiers’, the Vice-Chancellor mentioned that it is crucial to assess whether audit committees and internal auditors have been as vigilant and diligent as required as they explore new frontiers.
He emphasised orientation and…
