Public Boards, Corporations and Statutory Institutions in Ghana recorded a total of GHS7,387,774,195 to irregularities for the period ending December 31, 2020, the Auditor General’s report has revealed.
This signifies a rise of 135 per cent of the previous year’s GHS5,468,398,431, leading to a total figure of GHS12,856,172,626 in 2020.
The rise, according to the report was occasioned mainly by a surge of GHS5,207,442,576 or 107percent in outstanding debtors/loans/recoverable component of the total irregularities for the period ending 31 December 2020.
The report also identified cash irregularities related to the misapplications of funds, non-retirement of imprest, payments not authenticated among others in the year under review.
The Auditor-General has recommended that Management of Public Boards, Corporations and other Statutory Institutions strictly adhere to rules and regulations with regards to debts management.
He urged them to also put in place proper policies for the management of loans and other receivables as well as ensuring that loans and debts are repaid on due dates to avoid or minimize the occurrence of bad debts.
“I therefore urged the Management of the Public Boards, Corporations and other Statutory institutions to strengthen supervisory controls over their finance officers, and ensure that they adhere to the Provisions of the Public Financial Management Act, 2016 (Act 921),” the report stated.
The Auditor-General further recommended the authentication of all payment vouchers, prompt payment to the bank and full retirement of accountable impress on due dates.
source: Modern Ghana