CAGD plays critical role in shaping our economic landscape -Otumfuo 

Otumfuo Osei Tutu II, the Asantehene has stated that the Controller and Accountant-General Department plays a critical role in shaping the landscape of our nation and the department’s tireless efforts in upholding fiscal discipline serve as a pillar of strengthen to our pursuit of sustainable development.

Nana Yim Awere Ababio, the chief of Toase, speaking on behalf of Otumfuo Osei Tutu II at the closing ceremony of the CAGD 2024 annual conference, at the Kwame Nkrumah University of Science and Technology (KNUST), commended them for their unwavering commitment to transparency, accountability and the prudent management of the nation’s finances.

The occasion also coincided with the launching of Manuals that seek to aid International Public Sector Accounting Standards (IPSAS) journey.

Nana Yim Ababio observed that Accounting reforms have also been prominent on the PFM reform agenda of (IPSAS) to provide consistent and transparent framework for reporting on the financial performance, financial position and cash flows of government.

He disclosed that the manuals launch to aid their IPSAS journey are the enhanced standard Fixed Assets Register, which was deployed to cover entities in the early part of 2023, a comprehensive IPSAS Training Manual, the IPSAS Compliant Financial Reporting templates, the New GoG Accounting Policies for Covered Entities, 2024, IPSAS Compliant Chart of Accounts and IPSAS Compliant checklist to comprehensively track compliant status of entities.

The technical tools, he said, are being deployed to facilitate financial reporting at both the national level and at various covered entities within the three levels of government.

Otumfuo urged them to take the books seriously and use them to improve upon their work as the economy of the country depends on them.

Mr. Kwasi Kwaning-Bosompem, the Controller and Accountant-General, explained that the Manuals culminate in rigorous efforts and dedication to enhance our financial governance and reporting standards.

He said the IPSAS Manuals encompass crucial components, essential to effectively manage public finances as each manual is designed with a specific purpose to streamline our financial processes, strengthen accountability and ensure compliance with international standards.

He indicated that the Government of Ghana’s financial reporting template will serve as a standardized framework, enhancing the consistency and transparency of financial reporting.

The Controller and Accountant-General noted that the IPSAS Training Manual will equip their professionals with the necessary knowledge and skills to implement IPSAS successfully, ensuring a smooth transition to international best practices.

He disclosed that the manuals reflect their commitment to fostering a culture of transparency, accountability and efficiency within their financial operations and that they will not only elevate their internal processes, but also contribute significantly to the overall economic landscape of Ghana.

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