State funds worth GH¢61 billion locked up with state institutions

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• Koku 1 year ago

  Seeing the controller and Accountant General struggling to offer explanations at the PAC on GTV shows that CAGD needs a radical change to actually shape Ghana's public sector accounting system. It was unfortunate some of the ...
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  Seeing the controller and Accountant General struggling to offer explanations at the PAC on GTV shows that CAGD needs a radical change to actually shape Ghana's public sector accounting system. It was unfortunate some of the explanations were far way below for professional accountants such as the high office of the CAG.
  
  The PFM act 2016 spells out clearly functions of the CAG which are currently not being performed well enough and as long as it remains so, the high office of the CAG will continue to struggle not only reporting the books of accounts but also speak to the issues in the consolidated account presented to PAC as witnessed on national TV.
  
  To close this gaps the Controller and Accountant have to internalize the accounting functions of all covered entities in Ghana.
  
  The controller and Accountant General being the chief government accountant should not only open bank accounts for covered entities and leave the day to day management of these accounts in the hands of the MDAS to manage. Infact from the PFM act section 8(4a) requires the controller and Accountant General to compile and manage the accounts prepared in relation to public funds.
  
  At the PAC, the CAG could not provide explanations to some of the reported figures.
  There were variations in reported figures of some covered entities etc.
  
  To achieve the internationalisation agenda, the CAG should:-
  
  1). Provide the register of all public accounts in operations.
  2). Validate the accounting staff to see their qualifications and appointments promotions etc.
  3). Provide technical support and training on public sector financial management based on international best practices.
  4). Design a suitable divisional structures.
  5). Build new HR architecture for all public sector accounting staff under the reformed CAGD. Ref to PFM 8(4.j)
  
  Once the controller and Accountant General internalises the accounting functions of all covered entities the CAG takes the authority to appoint, transfer, post, reshuffle, promote, demote all public sector accounting staff.
  
  Public Sector Accounting staff will no longer be recruited by the MDAS.
  
  The reformed divisional heads shall be responsible to provide timely financial reports from their respective divisions for consolidation.
  
  The internationalisation will prevent differences in the reported values in the consolidated account as witnessed on national TV.
  
  Internalization of public sector accounting functions of all covered entities gives the opportunity to the CAG to provide uniformity, standardization, accuracy, reliability, completeness and above all accountability and the true picture of Ghana's public sector financial management to Ghanaians.
  
  Now tell Ghanaians that the continued stay in office by your staff is dependent on their performance.
  
  What happened at PAC clearly suggests that the CAG has brought Public Sector Accountancy into a disrepute.

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• Peter 1 year ago

  Kolu well done for your response. Very few civil servant leaders deserve their positions. It is all but what they get from the office they occupy.

  Kolu well done for your response. Very few civil servant leaders deserve their positions. It is all but what they get from the office they occupy.

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• Onaapo 1 year ago

  Such a person takes salary for doing nothing
  Tax payer pay for his rent, fuel, cars, food, clothing, wife allowance, watchman, bodyguards, dogs allowance etc etc
  Hmmmmmmmmmmm

  Such a person takes salary for doing nothing
  Tax payer pay for his rent, fuel, cars, food, clothing, wife allowance, watchman, bodyguards, dogs allowance etc etc
  Hmmmmmmmmmmm

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• Yaw Osafo 1 year ago

  It's a shame that GhanaWeb continues to show unprofessionalism in it's reportage of critical news that should benefit it's readers. Sensationalism is the order of the day. Per the narative reported regarding the locked up fun ...
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  It's a shame that GhanaWeb continues to show unprofessionalism in it's reportage of critical news that should benefit it's readers. Sensationalism is the order of the day. Per the narative reported regarding the locked up funds, it appears a great amount of GH15 billion is outstanding instead of the Headline stating GH61 Billion. I thought 61-46 = 15 and NOT 61

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• Tygar 1 year ago

  Did Akufo Addo really protected the public purse??

  Did Akufo Addo really protected the public purse??

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