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World Bank downgrades Ghana’s audit service performance

  Thu, 20 Jun 2024
Economy & Investments World Bank downgrades Ghana’s audit service performance
THU, 20 JUN 2024 LISTEN

The World Bank has downgraded Ghana’s Audit Service performance from a “C” to a “D” grade, citing deficiencies in its independence compared to international standards.

The assessment, conducted to evaluate the Supreme Audit Institution’s independence, scored Ghana 6.5 out of 10, indicating moderate independence.

The score marks a decline from Ghana’s previous rating of 8.0-8.5 in 2021. While the Audit Service met expectations in some areas, improvements are needed in others.

The World Bank recommends establishing standard operating procedures, providing training and equipment, and fostering collaboration among stakeholders to enhance independence.

The Bank also emphasizes the importance of conducting all required audit types under Ghanaian law to ensure transparency and effective use of public resources.

Spending officers are advised to conduct root-cause analyses of audit issues and communicate findings clearly to promote understanding and resolution.

This highlights the need for Ghana’s Audit Service to address its independence and effectiveness to ensure good governance and public resource management.

—citinewsroom

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