The Audit Committee of the University of Cape Coast has been inaugurated with a call on members to help rebrand the University.
The new committee replaces the Audit Implementation Committee (ARIC) which was charged with the responsibility of ensuring that the institution carried out the recommendations made by its External Auditors. This follows the promulgation of the Public Financial Management Act, 2016 (Act 921).
Members of the committee are Prof. Kwame Boasiako Omane-Antwi, chairman, Mr. Samuel Petterson, Internal Audit representative, Mr. Kofi Abaidoo, Institute of Chartered Accountants Ghana, Dr. Thomas Agyarko-Poku and Dr. Edem Amenumey both representing the University Council. Members of the Committee would serve for a period of two years.
Inaugurating the committee, Chairperson of the Governing Council of the University, Mrs. Nancy Thompson called on the members to give attention to very delicate and sensitive tasked assigned them. “I have no doubt that you will carry out your assignment with diligence, commitment, objectivity, transparency and teamwork”, she said.
On the need to adhere to strict confidentiality, Mrs. Thompson said: “In executing your responsibility, members and secretarial staff may have access to confidential information. Therefore, it is important to maintain strict confidentiality of proceedings and materials to the fullest extent”. She said, she was confident of the caliber of members of the Audit committee and therefore, believed the University and the entire country would benefit immensely from their rich knowledge, expertise and experience.
The Chairperson of UCC Council later sworn into office members of the committee.
Addressing members of the committee, the Acting Director of the Internal Audit Agency, Mr. Ransford Adjei, called on the committee to ensure strict adherence rules and policies that govern financial management of the University and therefore, urged them to be abreast with the enabling Act of the University and the Public Financial Management Act (921). Mr. Adjei advised members of the committee to ensure that all policies that were not currently in place were fashioned out and made operational.
Mr. Adjei reminded the committee that it had all the powers and authority to invite persons or request for documents that would help it carry out its mandate as efficient and effective as possible. He advised members to collaborate and work harmoniously with the Vice-Chancellor since it was his responsibility now to see to the implementation of any report that the committee churned out.
In his remarks, chairman of the committee, Prof. Omane-Antwi said the committee would bring independent perspectives to bear in its work to add value to the University adding that “this committee was set up to supplement and not supplant the University”.
Prof. Omane-Antwi said the committee would employ effective risk management practices and good control measures so as to achieve the aims for which it set up. He called for support from both the management and the Directorate Internal Audit to save the University from “Bad press”.