According to the Auditor-General’s report, financial problems in public boards, corporations, and other institutions fell by GHS6.2 billion in 2023.
By the end of December 2023, these issues were reduced by 41.6%, from GHS15.06 billion in 2022 to GHS8.8 billion.
The problems included overdue debts, cash issues, payroll errors, tax problems, and procurement and contract issues.
The decrease was mainly due to better adherence to rules and following audit recommendations, as noted by Auditor-General Johnson Akuamoah-Asiedu.
He shared this information during an interview with the Ghana News Agency at the 2024 financial audit launch and Regional District Auditors Conference in Accra on August 16.
Mr. Akuamoah-Asiedu noted that clients are now taking audit recommendations more seriously and have implemented many suggestions from previous audits, which has led to fewer financial problems.
However, he pointed out that procurement irregularities were still high during the audit period, although these issues were mostly due to procedural mistakes rather than theft.
The audit report shows that, apart from procurement and contract issues, all other types of irregularities decreased in 2023 compared to 2022.
He called on the government to provide more support to the Audit Service to strengthen its independence, saying, “The government has been increasing our budget over the past four years, but more is needed.”
Mr. Akuamoah-Asiedu also emphasized the importance of raising awareness about corruption in public institutions and mentioned that the Audit Service has introduced digital systems to improve its operations.
At the event, Deputy Minister of Finance Dr. Stephen Amoah highlighted the need for cooperation with internal auditors to improve internal controls and accountability.
He encouraged all stakeholders to work together for fiscal sustainability and urged the Auditor-General to continue using surcharges and disallowances to reduce irregularities.
Dr. Amoah reaffirmed the government’s commitment to supporting the Audit Service to improve its effectiveness and efficiency, which is vital for reducing irregularities and aiding national development.
Additionally, Mr. Anthony Sarpong, a Senior Partner at KPMG, encouraged the Audit Service to intensify its review of public accounts, apply sanctions, and focus on recovering funds as well as identifying irregularities.
He stressed that these actions are crucial for managing public finances effectively and attracting more foreign investment.
Mr. Sarpong also urged public officials to be accountable for managing public funds properly and suggested that the Audit Service use Artificial Intelligence (AI) in its work.
