Ghana’s public sector has achieved a remarkable 32% reduction in audit irregularities for the year 2023, as reported in the recent Auditor-General’s report.
This reduction translates to a saving of over GH₵5.2 billion in public funds, marking a substantial improvement in the country’s fiscal governance.
Dr. E. O. Osae, head of the Internal Audit Agency (IAA), commended the efforts of various public institutions, stating, “There is a gradual improvement in the Internal Control and Governance systems of Public Institutions leading to a saving of over GH₵5.2 billion cedis of public funds which could have gone down the drain.”
The report highlights that Public Boards, Corporations, and other Statutory institutions made the most significant progress, with a 41.60% reduction in irregularities, amounting to approximately GH₵6.2 billion.
However, these entities still contributed the highest to total irregularities reported in 2023.
Notably, Dr. Osae pointed out that “99.24% of irregularities in Public Boards, Corporations and other Statutory institutions are recoverable with 0.76% arising from administrative and procedural lapses.”
He urged Audit Committees to take swift action in recovering these amounts and addressing identified Public Financial Management (PFM) Control Lapses.
The IAA has directed public institutions to “organize special Audit Committee meetings to work with management to immediately implement recommendations in the 2023 Auditor-General’s report.”
The agency has set a deadline of October 31, 2024, for institutions to report on the status of implementing these recommendations.
IMPLEMENTATION OF RECOMMENDATIONS IN THE 2023 AUDITOR-GENERAL’S REPORT ON THE PUBLIC ACCOUNTS
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