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Audit Committee ends Enhances Governance Oversight training in Bo

HomeAYV NewsAudit Committee ends Enhances Governance Oversight training in Bo

Audit Committee ends Enhances Governance Oversight training in Bo

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In a significant move aimed at bolstering financial oversight and accountability, the Internal Audit Department of Ministry of Finance in Sierra Leone conducted specialized training for newly constituted audit committee members from the southern and eastern regions.

The training session, held in Bo city on April 15, 2024, focused on clarifying the roles and responsibilities of committee members under pertinent legislation, including the Public Financial Management (PFM) Act and associated regulations.

The Director of Internal Audit, Kandeh M Sesay, emphasized the importance of the training in enabling committee members to fully grasp their mandates and the legal framework governing their work. Sesay highlighted that the acquired knowledge would empower committee members to ensure that audit recommendations are implemented by clients or escalated to higher authorities within the Ministry of Finance when necessary.

The training marked a departure from previous practices where councilors were part of audit committees, creating potential conflicts of interest. Now, with independent committee members, transparency and effectiveness in governance oversight are expected to improve significantly.

Angela Sesay, an internal auditor from the Moyamba District Council, lauded the training as an eye-opener, particularly noting the direct reporting line to the Minister of Finance, which replaces the previous reporting to council chief administrators. This shift is seen as a crucial step towards enhancing transparency and accountability.

Jespa Komba, Chairman of the Audit Committee in Kono District, emphasized the importance of independence, highlighting that the committee’s separation from local council management aligns with international best practices. Komba emphasized the need for adequate resources from the Ministry of Finance to enable the committee to leverage the newly acquired knowledge effectively.

The training included a comprehensive overview of key legislative documents such as the Public Financial Management Act of 2016 and associated regulations, ensuring that committee members are well-versed in the legal framework guiding their operations.

This initiative reflects Sierra Leone’s commitment to strengthening governance structures and promoting transparency in financial management.

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