- November 18, 2020
- Posted by: Salwa
- Category: News
The Upper East Regional Auditor of the Ghana Audit Serivce, Mr. Seidu Ahmed Kyei has reminded all public sector organizations and institutions to submit previous year’s Annual Financial Statements to Auditor-General and Controller and Accountant General by February 28.
He explained that the Annual Financial Statement submitted to Auditor-General and Controller and Accountant General should be signed and twelve copies be forwarded to Auditor-General and Controller and Accountant General but not the draft financial statement.
However, Mr. Ahmed Kyei noted that most often it is rather the draft financial statement that are submitted with errors and this invariably affect timely submission of their reports to parliament.
The Regional Auditor gave this reminder at this year Association of Education Accountants (AEA) national workshop in Bolgatanga in the Upper East Region.
He said section 80 of the Public Financial Management Act, 2016 (Act 921) requires that by 25 of February each year, public sector organizations should submit previous year’s annual financial statement to Auditor General and Controller and Accountant General but most of them failed to comply, He, therefore, used the occasion to appeal to all financial officers in public institutions across the Country to take note and act accordingly, he reiterated.
In the Director General of Ghana Education Service, Professor Kwasi Opoku-Amankwa’s opening address, he said that the type of attitude and commitment to work determine whether the result will be a success or failure, therefore charged A.E.A to embrace the attitude of timely submission of financial confidentiality, be meticulous and accurate, be prudent and very observant in their day to day functions.
He urged them to adopt possibility thinking approach to work and also embrace a consultative problem-solving process and working with management and colleagues.
“In order not to make a mockery of the Ministry of Education and Ghana Education Service at the Public Accounts committee, you would have to bring your competencies to bear on your delivery, therefore, be prudent and sharpen your skills and respond promptly to audit management letter” he emphasized.
The Acting National Chairman of AEA, Mr. Ambrose Yao Kwadzodza urged members to ensure effective execution of budgetary allocation to all policies and programmes, “we are required to abide by all policies, procedures, requirement, financial laws and regulations” he admonished.
Touching on accountability, Mr. Kwadzodza said accountants must assist the Principal Spending Officer in exercising effective control over the management of stores and ensure a regular stock check, avoid obsolete items, ensure that expired goods are not kept in the stores and finally ensure that stock levels are within control limits.
He said a Principal Spending Officer of a covered entity of public corporation shall be responsible for assets of the institution under his care and ensure proper control systems exist for custody and management of assets.
In the speech of the Upper East Regional Minister, read on her behalf by her Coordinating Director, Alhaji Mahamadu Assibi Azonko noted that the Public Accounts Committee of the Ghanaian Parliament and the Auditor- General’s Department continuously identify poor accounting practices, internal control failures and poor financial decisions as the main threat to the financial management.
He again further explained that such deficiencies found in the financial operations of most state institutions such as the Ghana Education Service create the avenue for some public officials especially accountant to misapplication and misappropriate of funds and resources.