BY: Daniel Orlando | VoltaOnline
The Controller and Accountant-General’s Department (CAGD) held its 2025 Annual Conference at Ho Technical University, bringing together stakeholders to discuss enhancing public financial management excellence.
The conference, themed “Enhancing Public Financial Management Excellence,” provided a platform for the Department to highlight its commitment to transparency and accountability in public financial management.
In his address, the Controller and Accountant-General, Mr. Kwasi Agyei, reaffirmed Ghana’s commitment to enhancing public financial transparency and accountability through the full implementation of the International Public Sector Accounting Standards (IPSAS). He underscored the Department’s significant progress in modernizing Ghana’s financial reporting systems, which has improved the quality and scope of reporting in traditional areas such as Revenue, Expenditure, Assets, and Liabilities (REAL).
Mr. Agyei also emphasized the importance of integrity, transparency, and professionalism in public financial management as a foundation for sustainable national development. He acknowledged the Department’s responsibility in safeguarding Ghana’s public finances, especially in the face of rising expenditures and global economic uncertainties.
On his part, the Deputy Minister for Finance, Hon. Thomas Ampem Nyarko, unveiled bold public financial management reforms aimed at strengthening fiscal discipline and promoting efficient resource use. The reforms include the amendment of the Public Financial Management Act and the Procurement Act to align with international best practices, improve efficiency in public spending, and close loopholes that have enabled mismanagement of funds.
He noted that, a new fiscal compliance framework will also be operationalized to introduce stricter monitoring and reporting mechanisms, while, the government will undertake a comprehensive audit of existing financial commitments and arrears to establish the true extent of public liabilities and ensure accurate fiscal planning.
The government, the Deputy Minister stated, will also enhance oversight of State-Owned Enterprises (SOEs) and public investment projects, involving tighter scrutiny of project implementation and performance. Furthermore, Technology-Driven Solutions will be implemented to improve accountability and fiscal efficiency, including the full integration of the Ghana Electronic Procurement System (GHANEPS) with the Ghana Integrated Financial Management Information System (GIFMIS).
The conference provided an opportunity for stakeholders to reflect on the importance of sound public financial management in promoting sustainable national development.
