EOCO Inaugurates New Audit Committee in Ghana: Strengthening Internal Controls

• The Economic and Organised Crime Office (EOCO) has inaugurated a new audit committee to strengthen internal controls, risk management, and oversight.
• The committee was inaugurated on August 10, 2026, by Bismark Aborbi-Ayitey, who emphasized the importance of working closely with EOCO's internal audit unit.
• Nathan Yankey, a representative of the IAA, was elected Chairperson of the new committee and pledged to address audit infractions while improving EOCO's audit and risk management systems.

The committee's functions are backed by law, and its members were urged to uphold confidentiality, submit reports on time, and ensure that audit recommendations are implemented.

The Economic and Organised Crime Office (EOCO) has been reminded of the importance of addressing unresolved audit infractions, which could damage its credibility. This warning was issued by the acting Deputy Director-General in charge of Finance, Administration and Support Services at the Internal Audit Agency (IAA), Bismark Aborbi-Ayitey, during the inauguration of a new audit committee on August 10, 2026. The committee's functions are backed by law, and its members were urged to uphold confidentiality, submit reports on time, and ensure that audit recommendations are implemented. EOCO's Acting Executive Director, Raymond Archer, welcomed the new committee and expressed appreciation for the outgoing committee's contribution. However, he also emphasized the need for the new committee to address unresolved audit infractions and improve internal audit processes.

The inauguration of the new audit committee marked an important step towards strengthening EOCO's internal controls, risk management, and oversight. The committee was inaugurated by Bismark Aborbi-Ayitey, who emphasized the importance of working closely with EOCO's internal audit unit to improve internal control systems. Nathan Yankey, a representative of the IAA, was elected Chairperson of the new committee and pledged to lead efforts to address audit infractions while improving EOCO's audit and risk management systems. The new committee will play a crucial role in ensuring that EOCO's operations are transparent and accountable.

The inauguration of the new audit committee reflects EOCO's commitment to transparency and accountability. The institution has taken steps to strengthen its internal controls, risk management, and oversight, which is a positive development for Ghana's financial sector. However, unresolved audit infractions remain a concern, and it is essential that the new committee addresses these issues promptly. By doing so, EOCO can maintain its credibility and continue to play a vital role in combating economic and organised crime.

Lawyers should watch for potential compliance exposures arising from unresolved audit infractions at the Economic and Organised Crime Office, which could damage its credibility.

Source: Original reporting via Ghanaian news outlet