The Ministry of Education has clarified there is no outstanding obligation to the World Bank in respect of the 2021 audit report on the Ghana Accountability for Learning Outcomes Project (GALOP).
A statement from the Ministry said the Ghana Audit Service is responsible for the audit of GALOP, which took longer than expected to be completed.
“However, subsequent to the notice from the World Bank the report has been finalised and submitted.”
“The World Bank has confirmed receipt,” the statement said.
This follows a notice from the World Bank addressed to the Finance Ministry that indicated the audited financial statements for the GALOP were four months overdue.
The letter stressed, “In line with the Audit Compliance Guidance, we write to inform you that unless you come into compliance within the next thirty (30) days from the date of this letter, the Association may have no option than to explore the possibility of exercising the appropriate legal remedies under the Financing Agreement.”
“We refer to the Financing Agreement dated January 17, 2020, between the International Development Association (the “Association”) and the Republic of Ghana (the “Recipient”), in connection with the above-referenced Project.”
“In accordance with Section 5.09(b)(ii) of the General Conditions incorporated by reference in the Financing Agreement and as specified in paragraph II (ii) of the Disbursement and Financial Information Letter (DFIL), the Recipient is required to furnish the audited financial statements covering the period of one fiscal year of the Recipient no later than six (6) months after the end of such period.”
“We note that as of today, October 18, 2022, the Association has not received the audited financial statements for the year ending December 2021 in compliance with the General Conditions.”
“The Association is concerned that it is almost ten (10) months after the year ended and an independent audit report on the use of funds has still not been furnished to the Association.”