MDAs financial infractions declined by 32% in 2020 - Dr Oduro Osae

Financial infractions by Ministries, Departments and Agencies (MDAs) declined by 32 per cent in 2020 compared to the previous year, the Director-General of the Internal Audit Agency, Dr Eric Oduro Osae, has revealed.

Speaking at the 2021 Annual Conference of Internal Auditors, with a focus on Sustaining Internal Controls; Risk Management and Business Continuity in the Public Sector, the Director-General said that the Internal Audit Agency, working through internal auditors and audit committees across the country, saved the nation GH¢235,229,749.08 in the 2020 fiscal year.

“We can report a decline in the annual infractions reported by the Auditor-General for MDAs in 2020 by about 32 per cent from GH¢3 billion in 2019 to GH¢2.1 billion in 2020,” he said, adding that the gains can be practically attributed to the work of the internal auditors and the various audit committees.

Currently, the agency has commenced a process of naming and shaming institutions and support the prosecution of persons found to have stolen monies or engaged in financial irregularities under the PFM Act and Criminal offence Act,1 960 (Act 29).

“Since corruption and COVID-19 are the two known pandemics affecting Ghana, as the government works to contain COVID-19, let us also work to put in place measures to reduce corruption,” Mr Oduro called on the members of the agency.

He stated that sustaining internal controls through checks and balances is key to preventing misuse of public funds and corrupt practices before they occur. Read Full Story