The Directorate derives its authority and mandate from the following laws enacted by the Parliament of Ghana and statute/regulations established by the University Council:
- Public Financial Management Act, 2016 (Act 921)
- Public Financial Management Regulations, LI 2378
- Internal Audit Agency Act, 2003 (Act 658)
- University Statutes, 2016
- University Regulations, Policies and Procedures, 2020
The activities of the Directorate are regulated by the Internal Audit Agency. The Agency was established by the Internal Audit Agency Act, 2003, Act 658, to co-ordinate, facilitate and provide quality assurance for internal audit activities within the Ministries, Departments and Agencies and the Metropolitan, Municipal and District Assemblies.
The Act also became the legal framework for all established and yet to be established Internal Audit Units in MDAs and MMDAs as stated in Section 16 (1) that, “There shall be established in each MDA and MMDA, an internal audit unit which shall constitute a part of the MDA or MMDA. (2) There shall be appointed for each internal audit unit, personnel required to ensure an effective and efficient internal auditing of the MDA or MMDA concerned.”
Also, Section 83 (1-2) of the Public Financial Management Act, 2016 (Act 921) states, “(1) A covered entity shall have an Internal Audit Unit. (2) The head of the Internal Audit Unit shall report administratively to the Principal Spending Officer and functionally to the Audit Committee of that covered entity.”