Second GIFEC Audit Committee Inaugurated
The second Audit Committee of the Ghana Investment Fund for Electronic Communications (GIFEC), has been inaugurated by the Director-General of the Internal Audit Agency, at a brief ceremony held at the GIFEC Board Room.
Five members from both the public and private sectors were sworn-in to take up the mantle from the outgoing and first Audit Committee of GIFEC. The members are Mr. Ebenezer Siadah – Institute of Chartered Accountants, Ghana, Mr. Samuel Gyekye Mensah – Internal Audit Agency and Mrs. Enerstine Okailey Djanetey.
Other members are Mr. Emmanuel Adjei – AirtelTigo and Ms. Olivia Okailey Quartey from the National Communications Authority, who double as members of the Board of Trustees of GIFEC.
In his inaugural speech, Dr. Eric Oduro Osae, Director-General of the Internal Audit Agency, congratulated members and recapitulated the significance of the Committee to the growth and development of GIFEC, emphasizing the three major roles required of them: the Mandatory, Advisory and Supportive roles. He charged the members to bring on board their expertise and experiences to provide policy guidance, develop risk based Internal Audit workplan, and generally support Management for the success of GIFEC.
The Administrator of GIFEC, Mr. Prince Ofosu Sefah, in his address, said that the role of the Audit Committee in GIFEC’s operations cannot be overemphasized, as it provides oversight in the financial reporting processes, guidance to Internal Audit and Internal Controls, as well as ensures compliance to due process in the governance system.
He expressed his gratitude to the outgoing Committee, highlighting their substantial role and guidance in recovering GHC 1,300,000 from two financial institutions. He assured the new Committee of maximum cooperation from Management to ensuring the successful delivery of their mandate.
The Chairman of the sworn-in committee, Mr. Ebenezer Siadah, intimated the gratitude of members for the confidence showed in them, and called for Management cooperation for the success of their outcomes.