Audit service improves monetary management
By Daily Guide - Daily Guide Business/Finance | Fri, 03 Jul 2009
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Jay Fatormah (L) and Richard Quartey THE Audit Service of Ghana has undergone a public financial management training programme at an estimated cost of about GH¢665,000.
With the Audit Service coming under severe scrutiny in recent times relating to how public funds are managed, the technical support by the European Union (EU) sought to develop and widen financial and Information Technology (IT) audit capability, as well as expand and improve the quality of performance auditing.
The National Audit Office of the United Kingdom and the European Union signed a three-year agreement on the external audit component of the public financial management via the European Development Fund in 2006.
The objective of this agreement was to assist the Audit Service of Ghana to achieve its vision of becoming a leading audit institution.
It was also aimed at implementing IT strategies while strengthening its department and enhancing human resource management systems.
According to Richard Quartey, Acting Auditor-General, the programme had indeed enhanced the routine of his outfit, which could now boast of submitting over 30 performance audit reports to Parliament, development of IT audit capabilities leading to substantial savings through recoveries of payroll overpayments in some Municipal and District Assemblies (MDAs) and also the introduction of modern methods of financial auditing in accordance with international standards.
In a farewell message, the consultants, Jay Fatormah and Beatrice Akintomide expressed their appreciation for the opportunity to contribute to the upliftment of the Audit Service.
By Nathaniel Y. Yankson
Source: Daily Guide - Daily Guide
With the Audit Service coming under severe scrutiny in recent times relating to how public funds are managed, the technical support by the European Union (EU) sought to develop and widen financial and Information Technology (IT) audit capability, as well as expand and improve the quality of performance auditing.
The National Audit Office of the United Kingdom and the European Union signed a three-year agreement on the external audit component of the public financial management via the European Development Fund in 2006.
The objective of this agreement was to assist the Audit Service of Ghana to achieve its vision of becoming a leading audit institution.
It was also aimed at implementing IT strategies while strengthening its department and enhancing human resource management systems.
According to Richard Quartey, Acting Auditor-General, the programme had indeed enhanced the routine of his outfit, which could now boast of submitting over 30 performance audit reports to Parliament, development of IT audit capabilities leading to substantial savings through recoveries of payroll overpayments in some Municipal and District Assemblies (MDAs) and also the introduction of modern methods of financial auditing in accordance with international standards.
In a farewell message, the consultants, Jay Fatormah and Beatrice Akintomide expressed their appreciation for the opportunity to contribute to the upliftment of the Audit Service.
By Nathaniel Y. Yankson
Source: Daily Guide - Daily Guide
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