Ghana Water Ltd Inaugurates new Audit Committee to Deepen Financial Oversight

Ghana Water Ltd (GWL) has inaugurated a new Audit Committee in line with the Public Financial Management (PFM) Act, 2016 (Act 921) to strengthen internal control systems, ensure compliance, and enhance financial oversight within the institution.

The five-member committee is chaired by Hon. Gladys Gillian Naadu Tetteh, a seasoned governance and public financial management expert.

The committee will be responsible for overseeing the implementation of internal and external audit recommendations, monitoring financial reporting processes, ensuring compliance with relevant laws and policies, and advising management on risk.

Serving as an advisory body, it will support management in establishing robust internal control systems and identifying early warning signals that could affect operational efficiency or financial integrity.

Speaking at the inauguration, Mr. Adam Mutawakilu, the Managing Director of GWL, emphasized the committee’s crucial role in promoting transparency and accountability. He reiterated President John Mahama’s call for public servants to embrace accountability and lead by example, stressing the importance of responsible leadership, transparency, and public trust in governance.

He further noted that the inauguration of the Audit Committee reflects a broader national commitment to transparency, integrity, and good governance in the public sector, as championed by President Mahama.

“The President’s renewed emphasis on transparency and accountability sets a clear tone for all public institutions. At Ghana Water Ltd, we are committed to aligning with this national vision by strengthening our internal control systems, enhancing financial oversight, and ensuring that our operations meet the highest standards of integrity,” he said.

Mr. Mutawakilu added that the Audit Committee would play a critical role in ensuring compliance with public financial management regulations and supporting the company in operating with openness and accountability.

“This is how we build public trust—by demonstrating that we are not only committed to delivering quality services but also to managing public resources responsibly and transparently,” he added.

He explained that the inauguration of the Audit Committee is not merely a statutory requirement under the PFM Act but a strategic step in positioning Ghana Water Ltd to meet the highest standards of financial governance and internal control.

The committee is expected to collaborate closely with management and internal audit units to strengthen the risk management framework and implement audit recommendations from both internal and external sources.

“Our goal is to ensure that GWL continues to operate with integrity and transparency in the discharge of its core mandate of delivering potable water to the Ghanaian public. We must be proactive in our governance processes, and this committee will play a crucial role in that direction,” he noted.

Dr. Eric Oduro Osae, Director-General of the Internal Audit Agency (IAA), who administered the official induction, highlighted the committee’s dual role of oversight and advisory. He urged members to proactively support management in implementing audit recommendations and regularly review systems before external audits are conducted.

“You are not whistleblowers but support structures guiding management to prevent issues before they arise. Internal audit must provide early warning signals rather than waiting for external auditors to expose weaknesses in the system,” he stated.

Dr. Osae emphasized that under the PFM Act, the Audit Committee is required to submit an annual status of implementation report to the President, with copies also sent to Parliament, the Auditor-General, and the Internal Audit Agency. He, therefore, urged the committee to take ownership of this responsibility and ensure the timely submission of the 2024 Audit Committee Report, due in June.

He further noted that the Government is rolling out new policy directives for State-Owned Enterprises (SOEs), including the revision of 2025 risk-based audit work plans by April 30, 2025. He tasked the GWL Audit Committee to align its work with these new expectations.

“Your performance will be evaluated based on the quality of your reports and your contribution to strengthening systems. If done well, your names will be written in gold in the history of this organization,” he stated.

Dr. Osae also urged the committee to actively participate in entrance and exit meetings with external auditors, explaining that such engagements offer valuable opportunities to identify gaps and address them before final audit reports are issued.

He stressed that the committee’s role extends beyond compliance, as it also has a responsibility to support the institution in building strong internal control mechanisms and sound financial systems.

In her inaugural remarks, Madam Gladys Gillian Naadu Tetteh, the newly appointed Chairperson, pledged the committee’s commitment to working collaboratively with management and other stakeholders to uphold the integrity of the organization.

“We will work together to ensure enhanced financial oversight and compliance at Ghana Water Ltd,” she assured.

Madam Tetteh, who also chairs audit committees of other state institutions such as the Ghana Prisons Service, commended GWL for maintaining a clean financial record without major infractions. She emphasized the importance of building on the achievements of the previous committee, led by Mr. Charles Adiyiah Kusi, to further enhance the company’s internal systems.

“I have heard little about financial malfeasance associated with Ghana Water Ltd compared to other public institutions. This is a credit to the outgoing Audit Committee and the management team, and we intend to sustain and build on that legacy,” she noted.

She called for collaborative engagement between the committee, management, and internal auditors to safeguard the financial health of GWL and ensure the prudent use of public resources.