INAUGURATION OF THE 3RD AUDIT COMMITTEE OF THE GAMING COMMISSION OF GHANA AT THE LABADI BEACH HOTEL, ACCRA

The Gaming Commission of Ghana has inaugurated a six-member Audit Committee, to help the organization to implement and adhere to sound financial management and control systems. The Committee is constituted of Mr. Abdul Karim Hatsu as Chairman, Mr. Fiifi Kwakye, Ms. Juliet Nana Yaa Opoku-Manu, Mr. John Bayuo Waris and Mr. Ransford Kissi Appiah as members, with Ms. Beatrice Baiden being secretary.In his welcome address, the Deputy Games Commissioner, Mr. Kobby Annan congratulated the incoming Committee and expressed appreciation to the outgoing Audit Committee members for their tremendous work in ensuring improvement in the Commission’s good governance, risk management and control systems.

He reiterated management’s commitment and readiness to work with the newly inaugurated team to achieve better financial discipline through the organization’s prudent financial management.

The new Chairman of the Audit Committee, Mr. Abdul Karim Hatsu, expressed optimism that the new Committee will work diligently to take the Commission, a notch higher in the areas of good corporate governance, risk management and strong internal control in relation to compliance.

The Director General of the Internal Audit Agency, Dr. Eric Oduro Osae, touched on the statutory, advisory and supporting roles expected of the Audit Committee. On the statutory role, he urged the new Committee to work with management of the Commission, to implement recommendations of both the internal and external auditors for effective control systems. Dr. Osae also urged members to produce annually, an audit committee report which captures all reports that came to the Committee’s attention, as well as all recommendations that the internal auditors, external auditors and parliament make on the organization’s operations.

In the area of the Committee’s advisory role, the Osae urged members to advise the Commission on mainstreaming enterprise risk management in its operation. “At the moment, the public sector internal audit system is moving away from the conventional pre-auditing to risk-based audit so that internal audit can be proactive in supporting management. We don’t want management to fall into the deep ocean before we pull them out. Ours is to prevent so we’re moving away from conventional pre-auditing to risk-based auditing. So, support the institution to mainstream enterprise risk management in their operations” he added.

In the line of support, the Director General of the Internal Audit Agency reiterated the need for the Committee to support the Internal Audit Unit of the Commission, to develop an annual risk plan and implement the plan, by conducting and submitting quarterly internal audit reports to update on the internal control systems.
He stressed that government is working with the Internal Audit Agency, the Audit Service, and Controller & Accountant Generals Department, to develop an audit report implementation tracking tool. This tool will help to monitor the implementation of all the recommendations made either by the internal auditor, external auditor or parliament.

The Committee will serve for a period of two years, renewable for another two-year term, subject to satisfactory performance.