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Regional News | Apr 29, 2004

Directors educated on new financial administration laws

GNA

Accra, April 29, GNA - A Financial Administration Tribunal has been established to deal with, or prosecute any financial malfeasance that might take place in the various Ministries, Departments and Agencies (MDAs) in the public sector.

The tribunal, set up under the new Financial Administration Act 2003, Act 654, is made up of a High Court Judge, a Professional Accountant, Chartered Accountant, Management Accountant and a Professional Valuer, would effectively, handle such issues to ensure that public resources were used judiciously and for specific purposes. Mr Daniel Domelovo, a Director at the Controller and Accountant General's Department, announced this on Thursday at a workshop for Regional Directors of the Ghana Education Service (GES) in Accra.

The workshop, being attended by over 40 Directors of Education, including staff from the Headquarters of the GES was to educate participants on the new Audit Reform Act 658, Procurement Reform Act 663 and the Legal and Regulatory Framework Reform Act 654.

Mr Domelovo explained that, the specialised financial tribunals were set up because the traditional courts lacked the capacity to handle such issues effectively.

He said it had been the wish of the Government to integrate financial management approach into the public financial system instead of the structural approach, which was currently in use and were full of improper accounting and auditing, weak budget formulation and preparation as well as weak expenditure monitoring and control. He indicated that, the new system would aid in the decentralisation process, under which, financial management would become part of the approach in the mainstream activities of the MDAs.

Mr Domelovo said the revision of the legal framework for financial management would ensure transparency and accountability, while the Financial Administration Act would address other components of financial systems.

He said the Audit Reform Act, would promote the timely and effective audit of transactions and the Procurement Reform Act, on the other hand, would help streamline public sector procurement of goods, works and services and establish effective monitoring and tracking system. Mr Charles Otto, Financial Controller, GES, said since the Services was the biggest organisation that absorbed about 22.6 per cent of Government's discretionary budget, it was proper that its Directors were educated on the laws that bordered on their work, adding that, participants would also be educated on their roles within the new laws. He said a similar workshop would be held for District Directors of education all over the country before the next academic year to educate them on the same issues to be able to critically improve upon their payrolls and general management.

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