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(1) There shall be a Chief Internal Auditor of the Bank. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(2) The Chief Internal Auditor shall be appointed by the Board in accordance with section 23. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(3) A person qualifies for appointment as a Chief Internal Auditor if that person

(a) is a Chartered Accountant of not less than ten years post qualification experience;

(b) is not declared bankrupt or indebted and has not failed to make arrangements for the payment of a debt owed by that person;

(c) has not been convicted of an offence involving fraud, dishonesty or moral turpitude; and

(d) Has not been found to have committed an offence involving dishonesty, fraud or moral turpitude after a disciplinary hearing. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(4) The Chief Internal Auditor shall be an employee of the Bank. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(5) The Chief Internal Auditor shall perform the functions of office with a high degree of professional independence and without interference. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(6) Subject to this Act, the Chief Internal Auditor is responsible to the Board in the performance of functions as Chief Internal Auditor. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(7) The Chief Internal Auditor shall as part of the functions of office, at intervals of three months, prepare a report on the internal audit work carried out by the Chief Internal Auditor during the three month period immediately preceding the preparation of the report and submit the report to the Board through the Audit Committee. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(8) The Chief Internal Auditor shall only be transferred or reassigned with the express approval of the Board. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(9) The Bank shall make available to the Chief Internal Auditor every logistic or condition reasonably required for the effective performance of functions as a Chief Internal Auditor. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]

(10) A person ceases to be a Chief Internal Auditor if that person

(a) ceases to be an employee of the Bank;

(b) is disqualified from practice as a Chartered Accountant by an order of the relevant competent authority;

(c) ceases to be a member of a professional body;

(d) becomes bankrupt or is unable to pay or make acceptable arrangements to pay a debt owed by that person;

(e) Has been convicted of an offence involving fraud, dishonesty or moral turpitude; or has been found to have committed an offence involving dishonesty, fraud or moral turpitude after a disciplinary hearing. [Substituted by Bank of Ghana (Amendment) Act, 2016 (Act 918) s.13]