CIRIP Pays Courtesy Visit to the Auditor‑General
The Chartered Institute of Restructuring and Insolvency Practitioners (CIRIP) Ghana has paid a courtesy visit to the Auditor‑General, Mr. Johnson Akuamoah Asiedu, as part of efforts to align its operations with statutory and governance requirements under its establishing legislation.
The visit took place on Friday, 13th March 2026, at the Office of the Auditor‑General. CIRIP’s delegation was led by its Chief Executive Officer, Mr. George N. Owodo, and included the Executive Secretary, Ms. Petrina Quaye, and a representative of the Institute.
The engagement was aimed at formally introducing CIRIP and seeking guidance on the audit provisions under the CIRIP Act, particularly the requirement for the Institute’s accounts to be audited by the Auditor‑General. The discussion formed part of CIRIP’s preparations as it begins its first year of operations as a statutory professional body.
During the meeting, the CEO of CIRIP provided background on the establishment of the Institute and Ghana’s reformed insolvency framework, which emphasizes business rescue and restructuring rather than liquidation. He explained that CIRIP was keen to fully comply with its legal obligations and therefore sought clarity on the appropriate audit process, including whether external auditors could be engaged.
In response, the Auditor‑General congratulated CIRIP on its establishment and emphasized the importance of strong governance and accountability. He clarified that institutions established by statute fall under the audit mandate of the Auditor‑General and advised that any audit arrangements must be undertaken under the authority of the Ghana Audit Service.
The meeting also provided an opportunity for CIRIP to brief the Auditor‑General on its governance structure, ongoing institutional setup, and operational challenges, including funding constraints as the Institute transitions into full statutory operation.
The engagement concluded with an agreement on next steps, including formal communication to initiate the audit process when CIRIP’s financial statements are due.
The visit underscores CIRIP’s commitment to sound governance, transparency, and compliance as it builds a strong foundation for regulating restructuring and insolvency practice in Ghana.
