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10.08.2004 Regional News

Heads of department in Upper East Region exposed to financial management

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Bolgatanga, Aug 10, GNA - Heads of Department and accountants, in the Upper East Region, on Monday began a two-day workshop, on the Public Financial Management Reform of the Ministry of Finance and Economic Planning (MOFEP).

The personnel are being exposed to the three financial laws being implemented by the Government as part of the reform. Dr Wahab Alhassan, an official of the MOFEP, who addressed the workshop, said the laws were: The Financial Administration Act 654, Internal Audit Act 658 and Public Procurement Act 663.

He said the main objectives of the MOFEP were the promotion of an efficient, transparent and accountable public financial management. He said this would be done through re-structuring of the processes of budgeting and public expenditure management, strengthening of budget formulation and preparation, and promoting ownership and accountability of budgets by sector ministries.

The reform would also introduce a proper accounting and auditing system, promote compliance with financial policies and procedure and provide quality and timely data on government resources. 10 Aug. 04