Winneba, Aug 3, GNA – The Central Regional Minister, Mrs Ama Benyiwa Doe, has appealed to lending institutions to avoid giving loans that would become toxic assts on their balance sheets and as a consequence require bailout from the government. The Regional Minister said this in an address read for her at the opening of the fourth Biennial congress of the committee of Internal Auditors of universities of Ghana at the University of Education, Winneba.
Participants from public and private universities and polytechnics are attending the congress which is under the theme “the impact of global financial crises on public university funding, the role of internal auditors”. Mrs Benyiwa Doe also urged lending institution to avoid exposing the young working people to more vulnerability by granting them excessive credit.
She expressed concern that in some cases the beneficiaries did not put the loans to good use but acquire expensive cars and other luxurious items.
Prof Naana Jane Opuku-Agyemah, Vic-Chancellor of the University of Cape Coast, said internal auditors must be interested in preventing fraud by providing constant support and sound advice to managers. The Vice-Chancellor of the University of Education, Winneba, Professor Asabere-Ameyaw, said it was time for internal audit units to broaden their focus to conduct better, faster and more cost-effective audits. 03 Aug 09
Source: GhanaWeb
