Auditor General Report Reveals $568 Million Financial Irregularities Among Public Institutions
The 2023 Auditor General’s Report has revealed a significant decrease in financial irregularities among Public Boards, Corporations, and other Statutory Institutions, with total discrepancies amounting to GH¢8.799 billion ($568 million).
This marks a sharp decline of approximately 41.6% from the GH¢15.059 billion recorded in 2022.
Included in the 2023 irregularities is a sum of US$4,585,776, converted into Ghana cedis at the prevailing exchange rate of GH¢11.88 to US$1 as of December 31, 2023.
Despite an increase in the number of audited institutions from 113 in 2022 to 135 in 2023, most types of irregularities, except for procurement and contract issues, have decreased.
The report delineates the GH¢8.799 billion total irregularities into a recoverable amount of GH¢8.732 billion and administrative infractions of GH¢66.807 million.
The administrative irregularities encompass procurement and procedural lapses in public financial management, which, according to the report, do not imply a loss of funds.
The recoverable sum includes debts owed by inter-governmental agencies, overdue receivables, locked-up investments, unpaid taxes, unretired imprest, and loans provided to employees of various institutions.
Conversely, the administrative irregularities, amounting to 0.76% of the total, stem from procurement infractions, overdue payables, and penalties due to delayed payments to suppliers.
Highlighting the recoverable nature of the majority of the irregularities, the Auditor General’s Report underscores the necessity for stringent implementation of its recommendations to enhance financial discipline within the management of public resources.
