Gov’t agencies indicted for causing GHc1bn financial loss

The Auditor General has indicted various government agencies for causing financial losses to the state through the breach of regulations.

The 2012 Auditor General’s report has revealed that government lost almost 1 billion Ghana cedis due to financial management errors.

The report intercepted by Starr News also showed that the country lost over 347 million Ghana cedis as a result of inefficient treasury management.

Grants from development partners for various projects were also understated by over 628 million Ghana cedis.

The external debt balance for the same period was also understated by over 285 million Ghana cedis.

Deputy Auditor General, Yaw Sefah in an interview with Starr News said many of the losses could have been avoided.

“If our [Auditor General’s] recommendations were being implemented a lot of the mess we are finding in there – treasury management, public financial management system – would be a thing of the past”.