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Delegation From The Commonwealth Risk Management Team Visit GRIDCo

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A delegation from the Commonwealth Secretariat for Internal Audit and Enterprise Risk Management visited GRIDCo to study the Company’s structure, documentation and reports of Enterprise Risk Management (ERM).
 
The twenty-one member delegation from the Public Sector Governance Unit (PSGU) of the Commonwealth Secretariat, London, embarked on a five-day Exchange Study programme in Ghana on the theme “Achieving Sustainable Development: The Value Added Role of the Internal Audit and Enterprise Risk Management.” Some highlights of the programme were a conference, as well as working visits to some institutions in Ghana for firsthand information on ERM practice in Ghana.
 
GRIDCo was one of the institutions selected to be visited for practical ERM training and demonstration. The delegation comprised participants from Ghana, Botswana, Lesotho, Mauritius, Jamaica, Guyana, Sierra Leone and India.
 
Mr. Suraj Amadu, Chairman of the Risk Management Committee of GRIDCo, briefed them on GRIDCo’s operations and said the Company despite some challenges has made immense progress in its ten-year history.
 
Mr. Richard Ntim, Chief Internal Auditor of GRIDCo, informed the delegation about the commitment of the Board, Senior Management and staff to their respective roles and responsibilities in the ERM System, adding that this had contributed to the success in its implementation.
 
He mentioned this during a detailed presentation he delivered on GRIDCo’s ERM. The presentation covered the various phases of the Company’s ERM; from the establishment to implementation, to the monitoring and assurance phases. In talking about the implementation stage, one aspect Mr. Ntim highlighted was the main tools GRIDCo has been using to implement its ERM. These tools include the Risk Register, Risk Management Policy, Risk Management Guidelines, Risk Management Committee, as well as Reporting Processes.
Mr. August Cole, Adviser, Public Financial Management, Public Sector Governance Unit, Governance & Peace Division, Commonwealth Secretariat, who led the team said the Secretariat had developed keen interest in GRIDCo’s strides in establishing and successfully running an ERM system. He added that the visit had given the delegation a practical experience of GRIDCo’s ERM.
 
The delegation also visited the System Control Centre of GRIDCo.
 
Mr. Cole, on behalf of the Secretariat, received a wall hanging with an Adinkra symbol (Wawa Aba – seed of the wawa tree – representing hardiness, toughness and perseverance) from Mr. Amadu, on behalf of GRIDCo.
 
The Institute of Internal Auditors terms ERM as “a structured, consistent and continuous process across an organization for identifying, assessing, deciding on responses to and reporting on opportunities and threats that affect the achievements of its objectives.”
 
The GRIDCo Board in 2014, directed Management to establish a Risk Management Unit within the Audit Department. This led to the commencement of processes for establishing an Enterprise Risk Management (ERM) system.
 
The Commonwealth Secretariat supports the Finance Ministries and other key institutions of member states in enhancing their public financial management systems, thereby improving transparency, accountability and probity in the use of public funds. Key to this has been the strengthening of internal audit to provide reliable assurance of internal control effectiveness and risk Management practices in place, fostering the successful implementation of National Development Plans and Sustainable Development Goals (SDGs). Thus the Commonwealth moves towards a common future, with this Internal Audit and Enterprise Management exchange learning of member states across Africa and the Caribbean seeks to build and harness partnerships and further development south-south cooperation.
 
A cross section of staff from GRIDCo, including Mr. Mark Baah, Director, System Operations, Director, Engineering, Rev. Samuel Kwofie; Director, Corporate Planning, Mr. Kofi Okofo Dartey; Director, H.R. & Services, Wg. Cdr. Rtd. Samuel Allotey; Managing Director, GRIDTel, Mr. George Nipah; Manager Audits, Mr. Joseph Zumasigee; Snr. Audits Officer, Mr. Benjamin Nkrumah; Snr. Risk Monitoring Officer, Mr. Ben Owusu Eyifah and Snr. Administrative Officer, Corporate Office, Ms. Catherine Eshun, a member of the GRIDCo Enterprise Risk Management Committee were also present.
 

  

Posted: May 20 2018

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