Ghana’s auditor-general, Johnson Akuamoah Asiedu, has reported a reduction of $347m (GHS5.4bn) in financial irregularities across public institutions in the country.
Financial irregularities in 2023 amounted to $717mn (GHS11.17bn), down from $1bn (GHS16.57bn) the previous year, the Business & Financial Times reports.
Asiedu attributed the improvement to the rigorous implementation of the Audit Service’s recommendations and the oversight role of the Public Accounts Committee.
He also revealed a strategic shift in the Audit Service’s reporting approach for 2024, stating that reports on public universities would be separated from those of public boards and corporations to streamline the audit process.
Deputy Finance Minister Stephen Amoah highlighted the Audit Service’s impressive completion rate of 91.72% for planned audits in 2023, completing 6,166 out of 6,723 audits, B&FT writes.
In recognition of its critical role, the government has increased the Audit Service’s budget for 2024 to $41mn (GHS633.74mn), with major allocations for employee compensation, goods and services, and capital expenditure.
“This budget will enable the Audit Service to continue its essential work, ensuring that public funds are utilised effectively and any misuse is promptly identified and addressed,” Amoah assured.
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