Ghana Association of Banks hosts workshop on strengthening internal controls in digital era

By:  Nana Appiah Acquaye

The Ghana Association of Banks has convened industry stakeholders for a workshop focused on reimagining internal control systems to address emerging risks in the evolving banking landscape.

The Internal Control Network Workshop brought together heads of compliance, risk, and fraud from member banks to examine how institutions can strengthen governance frameworks while supporting innovation and operational efficiency.

Delivering the opening remarks, Chief Executive Officer John Awuah highlighted the increasing complexity of the banking sector, driven by digital transformation, regulatory changes, and rising cyber and fraud threats. He emphasized the need for internal controls to evolve beyond traditional compliance roles into strategic tools that enable resilience and growth.

A presentation by Kwame Sarpong Barnieh of KPMG focused on repositioning internal control functions as value-adding units capable of supporting business performance while maintaining strong accountability structures.

Providing a regulatory perspective, Samuel Okae of the Bank of Ghana outlined supervisory priorities and identified key risk areas and common control weaknesses within the sector. He stressed the importance of proactive risk management and alignment with regulatory expectations.

The workshop also explored the use of artificial intelligence in fraud detection, with Carlos Amoako demonstrating how advanced analytics can help identify insider threats and enhance control effectiveness. A case study session led by Kwame Asante provided practical insights into control failures and response strategies in digital banking environments.

Executives of the GAB Anti-Fraud Forum Network presented on emerging fraud trends across electronic and alternative delivery channels, highlighting evolving threats in mobile and online banking and outlining mitigation strategies.

The event concluded with closing remarks by Albert Bartlett, who emphasized the importance of collaboration, continuous learning, and industry-wide commitment to strengthening internal controls.

Organizers say the workshop forms part of broader efforts by the Ghana Association of Banks to enhance resilience, stability, and integrity within the financial sector, with a renewed focus on adopting data-driven assurance tools and agile control frameworks to support secure digital growth.