World Bank downgrades Ghana’s Audit Service over concerns of diminished independence
The World Bank has downgraded Ghana’s Audit Service from a “C” to a “D”, citing significant concerns about its waning independence relative to global standards.
This latest evaluation places the Supreme Audit Institution’s autonomy at 6.5 out of 10, a marked decline from its previous score range of 8.0-8.5 in 2021, suggesting a troubling trend of decreasing independence.
While some aspects of the Audit Service’s operations met expectations, critical deficiencies persist that demand urgent attention. The World Bank’s report stresses the necessity of addressing these weaknesses to restore confidence and improve the institution’s performance.
To this end, the World Bank has outlined several key recommendations aimed at enhancing the Audit Service’s independence and operational effectiveness.
First, the implementation of standardized operating procedures is essential. Establishing clear and consistent protocols will ensure audits are conducted systematically and uniformly, thereby strengthening the overall audit framework.
Second, there is a pressing need for enhanced training and resource provision. Providing comprehensive training and adequate resources to the audit staff is crucial for maintaining high standards of audit practice and equipping staff to handle complex audit tasks effectively.
Third, fostering greater collaboration among stakeholders is vital. Improved cooperation and communication between all relevant parties will facilitate more effective responses to audit findings and strengthen the accountability framework.
Fourth, the World Bank emphasizes the importance of conducting all types of audits mandated by Ghanaian law. This comprehensive approach will enhance transparency and promote more effective management of public funds.
Furthermore, the World Bank underscores the necessity for officials handling expenditures to conduct root-cause analyses of audit issues. Identifying the underlying causes of audit findings and ensuring clear communication of results will help in understanding and resolving issues, thereby improving the management of public funds.
These recommendations highlight the urgent need for Ghana’s Audit Service to address its deficiencies and realign with global standards of audit independence and effectiveness.
