Ghana’s Audit Service has been reassessed by the World Bank, resulting in a downgrade from a “C” to a “D” grade due to concerns about its independence.
The 2023 World Bank report on Independence and Accountability in Governance evaluated the autonomy of the Supreme Audit Institution, giving Ghana a score of 6.5 out of 10, indicating moderate independence. This score represents a decline from the previous range of 8.0-8.5 in 2021.
Although the Audit Service demonstrated strengths in various areas, improvements are still necessary.
To address these deficiencies, the World Bank recommends standardizing operating procedures, enhancing training and resources, and fostering stakeholder collaboration to enhance independence.
Furthermore, the report stresses the importance of conducting all required audit types as mandated by Ghanaian law to ensure transparency and efficient use of public funds.
Additionally, the report urges managers responsible for spending to conduct in-depth analyses of audit issues, communicate findings clearly, and ensure effective resolution.
The World Bank has also approved a $250 million IDA credit and a $10 million energy grant for Ghana.
