Business and Economics

Accounting Officers urged to shift focus from concepts to practicality

Takoradi, Sept 4, GNA -The Western Regional Minister, Mr Kwabena Okyere Darko- Mensah has urged middle level accounting officers to shift their focus from concepts and theories to practicality to ensure effective ways of resolving financial accountability and reporting.

The Minister made the call in a speech read on his behalf at the opening of a three-day workshop, organised by the Controller and Accountant General’s Department in Takoradi, on Public Sector Financial Management for Middle Level Accounting Officers in the Western and Western North Regions.

The workshop was to enhancing the capacity of middle level accounting officers to update their knowledge on financial reforms and discharge their responsibilities efficiently.

It was also to add value to their professional career to empower them face any challenges ahead.

Mr. Darko-Mensah pointed out that training and capacity building in the public service to facilitate the implementation of development strategies and policies of the government was vital to the development of the nation.

 He tasked the participants to come up with ideas and strategies that were effective to curtail wastage in the financial sector.

The Director of Controller and Accountant General, Mr. Kwasi Kwaning-Bosompem said it was extremely important  as accounting officers to digest the Public financial Act, 2016 (Act 921)and it regulations to guide them in the performance of their duties as managers of the public purse.

He added that, the Management of Public Finances was a fundamental responsibility and that a transparent Public Financial Management supports national accountability.

Mr. Kwaning-Bosompem noted that, one of the interventions of the government to protect the public was the introduction of the Ghana Integrated Financial Management Information System (GIFMIS), which was the core platform for prudent and transparent Public Financial Management in the country.

He stressed that Regulations 81 and 82 of the Public Financial Management Act, 2016 (Act 921) mandated all principal spending officers of covered entities to use GIFMIS to process all financial transactions and cautioned participants not to engage in government transactions outside GIFMIS , because culprits if fished out, would be sanctioned.

Mr. Bosompem explained that the use of GIFMIS helped to promote transparency, record keeping, efficient accounting and reporting.

 He said apart from GIFMIS , the Department was also implementing other initiatives and policies such as Electronic Salary Payment Voucher  (ESPV), Treasury Single Account  (TSA), Electronic Fund Transfer  (EFT), International Public Sector Accounting Standards (IPSAS), Government General Reporting  all aimed at enhancing and strengthening service delivery.

The Director challenged participants to upgrade their knowledge in information communication technology (ICT) since it had become the global currency for international transactions.

He said it was important to acquire knowledge in ICT to avoid losing their jobs to computers or being counted out of the noble profession of accountancy.

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