The Internal Audit Agency in collaboration with the Centre for Local Governance Advocacy on Monday, 16th October launched the first-ever Public Financial Management Compliance League Table (PFMCLT) at the Auditorium of the Accra Metropolitan Assembly.
The objective of the PFMCLT is to assess, rate and publish PFM compliance level of MMDA’s relating to Internal auditing requirements under the laws of Ghana and compliance with PFM Act and other regulations. It is also to ensure that public institutions comply with PFM laws of Ghana for improved accountability, transparency and improve financial management systems and ensure value for money.
The PFMCLT is expected to improve fiscal discipline and reduce corruption.
Out of the 261 Metropolitan, Municipal and District Assemblies (MMDAs) 255 representing 86% submitted the appropriate data for the assessment. Eleven (11) Assemblies out of the 255 represented scored the 50% and above pass mark. The Waija Gbawe Municipal Assembly topped with 59%.
The assessment was based on the 2022 financial year. The team also assessed compliance on regional bases as well.
Dr. Eric Oduro Osae, Director-General of the Internal Audit Agency, took participants through the assessment processes and how the table was arrived at. Addressing the programme, he noted the key effects of strong sub-national PFM systems on socio-economic development. He shared on interventions by the Agency, the Ministry of Finance, and the Ministry of Local Government, Decentralization and Rural Development to strengthen the PFM systems.
The assessment was based on the 5 areas of the PFM. Planning, Budget Development and Implementation, Procurement and Contracting, Accounting and Reporting and Internal and External Auditing.
Dr. Osae noted that Assemblies that did not perform well be provided with the needed support measures to enable them comply with the PFM requirements.
The launch of the league table had Development Partners share solidarity messages with participants. The Ministry of Finance and the Ministry of Local Government, Decentralization and Rural Development had representatives address participants on the League Table. Mr. Joshua Magnus Nicol chaired the launch.
Awards were presented to the ten (10) best performing MMDAs and encouraged to continue the good work and use resources judiciously. The best performing regional MMDAs were also awarded.
