TCDA inaugurates Audit Committee to strengthen financial governance

The Tree Crops Development Authority (TCDA) has inaugurated a five-member Audit Committee to promote transparency, accountability, and financial discipline within the institution.

The committee is chaired by Eric Osei-Afriyie of the Internal Audit Agency (IAA), with members including Nii Amasah Djanie, also of the IAA; Daniel Nyame and Dr Allen Kwadwo Asante Yeboah, both TCDA Board members; and Elizabeth Ohene Bampoe, representing the Institute of Chartered Accountants, Ghana (ICAG).

They were sworn into office by the Acting Director-General of the IAA Thomas Nii Ashaley Thompson-Aryee, who urged them to uphold high standards of integrity and diligence.

He reminded the committee of its statutory responsibilities under Sections 86 to 88 of the Public Financial Management (PFM) Act, 2016 (Act 921), stressing the importance of audit committees in addressing financial irregularities.

“As Ghanaians, we are all not happy with the level of financial irregularities within the public sector,” he said.

“Audit committees must sit up and ensure the implementation of audit recommendations as directed by the President and the Ministry of Finance,” Mr Thompson-Aryee added.

He urged strict compliance with procurement and financial management reforms, including the requirement for commitment authorisation from the Ministry of Finance for contracts exceeding approved thresholds.

The Chief Executive Officer of TCDA, Dr Andy Osei Okrah, described the inauguration as a “significant milestone” in the Authority’s commitment to sound financial governance.

He said the committee would serve as an independent oversight body to strengthen financial integrity, promote value-for-money operations, and ensure compliance with the PFM Act.

“Financial stewardship is not just an administrative requirement but a strategic necessity for national development,” he said, adding that TCDA manages substantial public and donor funds that must be used efficiently.

Mr Osei-Afriyie, Chairman of the committee, pledged its commitment to supporting the Authority in strengthening its financial and governance systems.

“Our aim is to add value, ensure effective governance, and make sure that the internal audit function performs to expectation,” he said.

The TCDA, established under Act 1010 of 2019, promotes, and develops six key tree crops -cashew, coconut, oil palm, rubber, mango, and shea- to diversify Ghana’s agricultural export base beyond cocoa.