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Question TWO a) After an excitingly attractive swearing-in ceremony, you are elected the chair of the audit committee of Electricity Company of Ghana (ECG), a
Question TWO a) After an excitingly attractive swearing-in ceremony, you are elected the chair of the audit committee of Electricity Company of Ghana (ECG), a state-owned organization. Required: Discuss how you would execute your stewardship in the first year of your tenure as the chair of the audit committee of Electricity Company of Ghana (ECG). (10 marks) b) Internal auditing is an independent, objective assurance and consulting activity designed to add value and improve an organizations operations. It helps an organization accomplish its objectives by bringing a systematic, disciplined approach to evaluate and improve the effectiveness of risk management, control, and governance processes.-IIA Global Definition of Internal Auditing Required: Evaluate the objectives of FOUR (4) governance processes and FOUR (4) risk management that an internal auditor must consider and identify the audit work that must be done. (10 marks) c) Under the Public Financial Management Act, Audit Committees are required to play important roles in corporate governance and Accountability. Required: Discuss FIVE (5) mandatory roles and responsibilities and FIVE (5)advisory roles and responsibilities of Audit Committees that may contribute to Corporate Governance and Accountability.
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