SEC ordered to chase two former employees for outstanding loan of GH¢15,788.16

The Auditor-General has asked the management of the Securities and Exchange Commission (SEC) to ensure it retrieves an outstanding loan of GH¢15,788.16 left by two former employees.

This is contained in the 2020 Auditor-General’s report released this month with several damning revelations.

According to the Audit Report, two employees of SEC that resigned in 2015 and 2016 respectively left an outstanding loan of over GHS15,000.

In its recommendation, the Auditor-General has advised SEC management to ensure the money is either paid or written off through the board.

“Two former staff of the Commission who resigned in 2015 and 2016 financial years respectively had an outstanding loan of GH¢15,788.16 as at the end of the year 2019.

“We recommended to Management to ensure that the outstanding balance is collected or considering the circumstances of seeking approval from Parliament for the write-off through the Board,” part of the Auditor-General’s report reads.

Meanwhile, the Auditor-General has urged the Board of Trustees of the Finance Ministry to liaise with the Sector Minister to set up an alternative statutory funding source for the Trust Fund.

This is after uncovering that the Ministry of Finance is unable to meet the Trust Fund’s annual operational budget since the abolishing of the National Reconstruction Levy Act, 2001 (Act 597).