News

Accra, Ghana – The Ghana Deposit Protection Corporation (GDPC) has been recognised for its exemplary audit standards, emerging as the 2nd Runner-Up for the prestigious Best Audit Committee in the State-Owned Enterprise (SOE) Category for the Year 2024.

The award was presented at the 2025 Annual Internal Audit Conference, organised by the Internal Audit Agency (IAA) of Ghana. The two-day event, held at the Accra International Conference Centre from November 3rd to 4th, convened under the theme “Resetting the Ghanaian Economy: The Role of the Internal Auditor.”

The conference served as a pivotal gathering for influential leaders from Ghana's financial, public, and governance sectors, focusing on strategic dialogues around economic reforms, digital transition, and bolstering the nation's fiscal resilience.

In his opening address, the Ag. Director-General of the IAA, Mr. Thomas A. Thompson-Aryee, emphasized the critical need for unwavering professionalism and integrity among Internal Auditors. He highlighted these values as non-negotiable pillars for effective economic stewardship. This standard of excellence is being demonstrated by institutions like GDPC.

The Corporation was specifically honoured for its steadfast commitment to upholding robust corporate governance practices, which are in strict alignment with the objectives of the Public Financial Management Act, 2016 (Act 921). The award also serves as a recognition of the Corporation's diligent efforts in proactively implementing recommendations from its internal audits, a practice commended by the IAA.

Mr. Galahad Andoh, CEO of GDPC, remarked, "We are deeply honored by this recognition from the Internal Audit Agency. It underscores our steadfast dedication to upholding the principles of good corporate governance." He reinforced the Corporation's ongoing mission, adding, "Our commitment to best practices is fundamental to our core mandate: protecting depositors in the event of a bank failure and, in doing so, safeguarding the financial stability of the nation."

The conference agenda featured in-depth discussions on several key topics vital to public financial management. These included the critical importance of operational independence for auditors, enforcing fiscal discipline, and ensuring value for money in all public sector expenditures.

Looking to the future, Mr. Thompson-Aryee also announced the IAA's ambitious goal to achieve a complete digital transformation by 2026. This initiative aims to transition the Agency’s operations from a traditional ‘file paper’ system to a fully integrated ‘paperless’ environment, enhancing efficiency and transparency.

The award solidifies GDPC's position as a leading institution in corporate governance and financial accountability within Ghana's state-owned enterprise landscape.

About Ghana Deposit Protection Corporation (GDPC):

The Ghana Deposit Protection Corporation is a key public institution mandated to protect depositors in the event of a bank failure, thereby contributing to the stability of Ghana's financial system.

About the Internal Audit Agency (IAA):

The Internal Audit Agency of Ghana is responsible for coordinating, facilitating, and providing quality assurance for internal audit activities within the public sector to ensure good governance and fiscal discipline.