ICAG Sets Expectations for its Members nominated to serve on MMDAs Audit Committees to Strengthen Local Governance.

ICAG Sets Expectations for its Members nominated to serve on MMDAs Audit Committees to Strengthen Local Governance.

The ICAG has charged members to bring integrity, financial leadership and zero tolerance for audit infractions to the operations of MMDAs in Ghana.

The has therefore outlined stringent professional expectations for its members nominated to serve on the Audit Committees of all 261 Metropolitan, Municipal and District Assemblies( MMDAs) , urging them to lead the charge for stronger accountability at the local government level.
The charge was delivered by the Chief Executive Officer ( CEO) of ICAG, E.O. Osae, FCA, during an orientation workshop for ICAG nominees ahead of their official inauguration.

The CEO said the appointments, made pursuant to Section 86 of the Public Financial Management Act, 2016 (Act 921), present a unique opportunity for the accountancy profession to directly contribute to improved public financial management where it matters most to citizens.

According to him, ICAG members cannot be passive committee members. They must provide active accounting and financial leadership.

Seven Key Expectations

The CEO outlined seven performance pillars for ICAG nominees:

1. Institutional Mastery: Develop a deep understanding of the Assembly’s mandate, operations, financial systems and risk landscape.

2. Integrity and Ethics: Demonstrate the highest standards of personal integrity, objectivity and ethical conduct as ambassadors of the profession.

3. Commitment and Value Addition: Dedicate sufficient time and deploy professional expertise to help Assemblies improve Internally Generated Fund (IGF )mobilisation and resource utilisation.

4. Technical Excellence: Exhibit strong financial literacy and competence in accounting, auditing, risk management, legal and regulatory compliance.

5. Independence: Uphold independence of the Audit Committee by avoiding all forms of conflict of interest and undue influence.

6. Impact on Audit Outcomes: Work collaboratively with Management, Internal Audit and the Auditor-General to significantly reduce audit infractions and financial irregularities.

7. Accountability to ICAG: Submit quarterly representational reports to the Institute detailing activities, challenges and impact.

Conditions for Effectiveness.

The CEO noted that for Audit Committees to be effective, certain enablers must be present, including an approved annual workplan, continuous capacity building, unrestricted access to relevant records, an adequate operational budget and clear protocols for operation.
He expressed confidence that with ICAG members on board, MMDA Audit Committees would move beyond compliance to become true agents of good governance.
The nationwide inauguration of MMDA Audit Committees is expected to bolster internal controls and improve financial reporting at a time when Auditor-General’s reports have consistently flagged MMDAs for procurement breaches, cash irregularities and weak controls.

He finally charged the ICAG members nominated to serve on the Audit Committees of MMDAs to be worthy ambassadors of the institute and to support improved financial management in Ghana’s local governments.