The Director General of the Internal Audit Agency, Dr. Eric Oduro Osae says the Minerals Income Investment Fund (MIIF) is poised to become the best minerals sovereign fund in Africa after inaugurating the Fund’s Audit Committee in Accra.
Dr. Oduro Osae, observed that the Fund by inaugurating its Audit Committee is now even better placed to work for the people of Ghana due to the legal architecture that governs the audit process of public sector companies.
The Audit Committee function is derived from the Public Financial Management Act 2016, (PFM Act 921) which imposes a three-pronged responsibility on the Internal Committee.
Further to Section 86 (1) of the PFM Act, 2016, the Public Financial Management Regulations, 2019 (L.I. 2378), the Public Procurement Act, 2003 (Act 663) as amended, the Guidelines for Effective Functioning of Audit Committees and other applicable financial laws, the audit committee is to perform a mandatory role, an advisory role and provide support to the internal management set-up to ensure greater value for the people of Ghana.
The CEO of MIIF, Edward Nana Yaw Koranteng added that, the inauguration of…
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