CICL launches audit committee to boost transparency

 THE Coffee Industry Corporation Limited has launched its audit committee to promote transparency and good governance in the sector, according to acting chief executive officer Charles Dambui.

He said the committee was formed this month facilitated by officials from the Auditor-General Office and the Department of Finance.

Dambuai said the company would have an in-house internal committee to be headed by its internal auditor Lilian Amu, who would compile reports to the audit committee. The committee comprises Dambui, deputy auditor-general Lemeki Ila and Department of Finance consultant Jerry Wemin who is the chairman.

As a requirement, two more people would be included to bring the number of members to five. One of these two must have a financial and accounting background, while the other must be knowledgeable in the coffee industry.

Dambui said the committee would make the CICL accountable and transparent. Finance first assistant secretary (internal audit and compliance division) Tess Wingi assured the Coffee Industry Corporation Limited management that it would have tangible improvements in its performance.