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The Controller and Accountant General’s Department (CAGD) Officially Opened its 2020 Annual Conference in Takoradi

The two-day conference, which is on the theme, “Ghana Beyond Aid Agenda: The Role of the Public Sector Accountant” will be used to deliberate on how public sector accountants could contribute to achieving the Ghana Beyond Aid Agenda.

It would also be used to sensitize participants to the Public Financial Management (PFM) Act, Act 921, which was passed into law by Parliament to ensure effective fiscal discipline in the management of public resources and promote transparency and accountability.

A total of 425 delegates, comprising Heads of Account at the various Ministries, Departments and Agencies (MDAs), Regional Directors of CAGD, Finance Officers at the various Metropolitan, Municipal and District Assemblies (MMDAs), and Regional Coordinating Councils (RCCs) are attending.

Also in attendance are a number of dignitaries from both the private and public sectors, including; seasoned accountants and financial management experts whose activities had a bearing on the operations of the CAGD.

Among the topics to be discussed include; consequences of audit infractions, pension planning (Tier 2 and 3 Pension Schemes), and corporate governance: reforms in Ghana public sector, and fraud, forensic accounting, and forensic auditing.

Mr. Kwabena Okyere Darko-Mensah, Western Regional Minister in his welcoming address, noted that as public sector accountants, they had a duty to the public not only to receive, disburse and account for public funds, but to also guide the MMDAs and MDAs on “how to make money”.

He indicated that the role of today’s public sector accountant was not limited to the efficient use of public funds, but wealth creation through innovative means and challenged them to lead in the crusade for wealth creation and improved service delivery as their identifiable contribution to the Ghana Beyond Aid agenda.

IAA Staff Undergo Training

A 5 day training programme for Staff of the Internal Audit Agency (IAA) has opened at the Centre For IT Professional Development, (CIPD – GIMPA) in Accra.

The training, a first of a series of three is meant to introduce participants to IT auditing, through exercises and case studies. The training also seeks to sharpen the skills of Participants and to develop their knowledge of basic IT audit concepts that can be used to facilitate integrated audit efforts in the Public Sector.

The course will also provide participants the opportunity to perform an audit of IT applications, supporting key business processes, coordinate the assessment of IT risk with the evaluation of IT general controls, and perform a risk assessment of controls over end user computer applications.

Speaking at the opening ceremony, Project Director of the Public Financial Management Reforms (PFMR), Dr. Hayford Baah-Adade observed that internal Audit is very critical in public financial management in Ghana. He therefore stressed that there is the urgent need for officers to be trained on basic IT knowledge to enable IT audit more professional manner.

Dr. Baah-Adade disclosed that the training will support Government’s efforts at implementing Enterprise Risk Management (ERM) across MMDAs and to provide operational support in the conduct of specialized audits. He added that participants will be required to transfer their knowledge gained after the training to other officers at their MDAs as Resource Persons. He noted that auditing should not be focused on only financials but the other components of the overall PFMR like Budget, Payroll and Human Resource Management Information System (HRMIS). He assured IAA of project’s support for the initiative and hoped that it will make auditing more effective and efficient.

On his part, Acting Director General of the IAA, Mr. Ransford Adjei, noted that the importance of the course cannot be over emphasized. He observed that it is particularly so because Government business has transitioned from manual to automated processes. He added that resources have been provided to build staff capacities to improve productivity on the job.

Training Workshop For 66 TTTS Ends

An 11 day training workshop for 66 “Train the Trainers” (TTTs) has ended at the Controller and Accountant General’s Department (CAGD) Dansoman Training School in Accra.

The training workshop which was organized by the Integrated Financial Management Information System (IFMIS) component of the Public Financial Management Reforms (PFMR) Project, provided hands-on training to the TTTs on the various modules of the IFMIS system. Participants were taken through the PFM cycle, General Ledger, P2P, amongst other system functionalities.

In a statement delivered on behalf of the PFMR Project Director, Siraj Tanko, PFMR Project Accountant acknowledged the commitment demonstrated by Participants during the training. He said, the IFMIS system is the way to go as the 21st century has blessed us with computer-based systems to enhance our work. He added that, Management’s plan is to deploy the system to all MDAs and MMDAs to cover all funds including Internally Generated Funds (IGF).

Daniel Amin Sahnoon, Deputy IFMIS Component Manager, on his part appealed to Participants to give off their best during the roll-outs for in his words, “God and country”. He also noted that the knowledge transfer does not end here and therefore called on them to keep practicing on the training instance to sharpen their skills.

Gray-Raymond Gakpo of the Public Accounts Section of the CAGD, on behalf of Participants, expressed appreciation to Project Management for the confidence bestowed on them and pledged that, they will do their very best to ensure the success of IFMIS and the broader PFM Reforms. He however appealed to Project Management to continue harnessing the relationship it has built with the TTTs for the overall success of the Project.

Mac-Effort Adade (IFMIS Component Manager), Daniel Amin Sahnoon (Deputy IFMIS Component Manager) and Solomon Swarna (Consultant) facilitated the training workshop.

IFMIS Organizes 11 Day Training Workshop For TTTS

An eleven day workshop to train “Train the Trainer” (TTTs) on the Integrated Financial Management Information System (IFMIS) modules has opened at the Controller and Accountant General’s Department Dansoman Training School.

In his opening remarks, Deputy Controller and Accountant General in charge of ICTM, James Ntim Amponsah noted that, when GIFMIS implementation began, some Ghanaians were sceptical about its prospects. “But thanks to the unflinching efforts of many stakeholders, the project has made giant strides in Public Financial Management Reforms in Ghana during the first phase of implementation”, he indicated.

According to Mr. Ntim, the World Bank did not relent in its efforts in supporting the second phase as a result of the progress made in the first phase. He added that, other funds like the Internally Generated Funds (IGF) and Donor funds will all be brought on board the system and so the need for the TTTs to take the training serious.

In an address, Mac-Effort Adadey, IFMIS Project Manager noted that, Phase 2 of the project has started under a bigger Public Financial Management (PFM) Reforms. He said the expectation is to deploy the system to cover all Government of Ghana Funds at all MDAs and MMDAs. “That is why this training is important because it will sharpen the skills of trainers needed to undertake training activities during the roll-outs”. He noted.

International Public Sector Accounting Standards (IPSAS) Launching

The Controller and Accountant General’s Department will formally launch the implementation of IPSAS in Ghana on November 28, 2018 at the Swiss Spirit (ALISA) Hotel in Accra, at 10:00am.

The Guest of Honour for the launch is His Excellency Dr. Alhaji Mahamudu Bawumia, Vice President of the Republic of Ghana.

Key note address will be delivered by Hon. Ken Ofori Atta, the Minister of Finance.  The function will be under the chairmanship of by Hon. Yaw Osafo Marfo, the Senior Minister.

 

  • International Public Sector Accounting Standards (IPSAS) are a set of accounting standards issued by the IPSAS Board for use by public sector entities around the world in the preparation of financial statements. These standards are based on International Financial Reporting Standards (IFRS) issued by the International Accounting Standards Board (IASB).

    The standards apply to all Public Sector entities other than Government Business Enterprises set up for commercial purposes.

    Its main objective is to improve the quality of general purpose financial reporting by Public Sector entities, leading to better informed assessments of the resource allocation decisions made by governments, thereby increasing transparency and accountability.

    The IPSAS Board has so far issued 40 Standards

    Over 100 countries across the globe have adopted IPSAS

  • More than 15 countries in Africa are in various stages of implementing IPSAS
  • International bodies like UN African Union and Organization of American States have adopted IPSAS

 

Benefits of IPSAS

  • Improves transparency by providing complete view of government business and performance.
  • High level of accountability by ensuring accurate recording of government performance and status.
  • Greater credibility as governments use same accounting standard.
  • More effective monitoring of the existence and value of assets and liabilities through effective assets management.
  • Better matching of cost to revenue by depreciation of assets.
  • Support better decision making by using quality information.
  • Harmonization of reports and statements across nations.
  • Better comparison of financial statements among countries.

IPSAS In Ghana

  • Ghana announced the adoption of IPSAS Accrual in 2014.
  • Implementation will be completed in the year 2023
  • The implementation is to further strengthen the Public Financial Management (PFM) Reforms Strategy and the use of Ghana Integrated Financial Management Information System (GIFMIS)
  • The Institute of Chartered Accountants Ghana (ICAG) is monitoring IPSAS implementation as the regulator of accountancy practice in Ghana.
  • The promulgated PFM Act 2016 (Act 921) provides Legal backing for IPSAS.

 

The Journey So Far….

  • IPSAS Secretariat established in Controller and Accountant – General’s Department.
  • IPSAS Implementation Strategy Developed.
  • Capacity built for IPSAS Implementation Committee Members.
  • Liability and provisions included in financial statements since 2010
  • Fixed assets capitalized and Depreciation thereof charged since 2012
  • Modified Accrual Accounting basis being used currently for production of Consolidated Fund (CF) financial statements.
  • The World Bank and SECO are providing part of funding for the implementation.