The Controller and Accountant General, Mr. Eugene Ofosuhene has cautioned Heads of Finance and Treasury Officers of state institutions that if they engaged in any activities in contravention of the Public Financial Management (PFM) Act, Act 921 of 2016, they will be imprisoned or face severe punishment commensurate with the offence.
He said the Heads of Finance must remain firm and not allow themselves to be pushed or compelled by any persons or authority to engage in illegal financial practices since any such infractions of the Act will be met with strict sanctions according to the Act.
Opening a 2-day sensitization and training seminar for Heads of Finance and Accountants of Metropolitan, Municipal and District Assemblies (MMDA’S) on the PFM Act in Accra, Mr. Ofosuhene disclosed that the PFM Act was a significant step towards the strengthening of Public Financial Management systems to ensure discipline and the effective and efficient use of public resource for improved service delivery.
He urged the Accountants and Treasury Officers to assert themselves as professionals and assured them that as long as they did the right things and performed according to the tenets of the PFM Act, the Controller and Accountant General’s Department will support and protect them to the hilt.
Mr. Kwasi Owusu, Deputy Controller of the Controller and Accountant General’s Department in Charge of Financial Management Service (FMS) and Chairman of the PFM Act Implementation Committee said the enactment of the Act 921 had become necessary in view of the new global trends in the Accounting profession and the need to have appropriate laws to back it and to deal with any malfeasance.
He said it was to ensure that the all Staff embraced the PMF Act that Management of the CAGD has rolled out a programme to sensitise Heads of Finances and Treasury Officers of the MMDA’s on the Act and implored them to study and understand it and let the Act be their guide and source of reference.
Dr. Saani Abdulai Mohammed, an Assistant Controller and Accountant General in charge of Cash and Revenue Management and leading member of the PMF Act Implementation Committee took the participants through the Act, emphasizing on the penalties for offending persons and the need for them to consider the Act as their ‘Bible and Koran’ in their practice as Accountants.
He explained that ACT 921 was promulgated to ensure prudent management of public finance and for the custody, safety and integrity of public funds. The Training programme also provided the opportunity for the Controller and Accountant General Mr. Ofosuhene to interact with Department’s staff with MMDA’s from their various stations throughout the country.