Business News of Thursday, 9 December 2021
Source: www.ghanaweb.live
2021-12-09Comprehensive audit of COVID-19 expenditures required - BudgIT Ghana, CSOs urge
Global and domestic financial institutions assisted Ghana during the pandemic
Global and domestic financial institutions assist Ghana during pandemic
Forensic audit required for full disclosure of expenditure
Delays could heighten perception of embezzlement
A non-government organisation, BudgIT Ghana has in recent report revealed delay in conducting a comprehensive audit on expenditures related to Ghana's COVID-19 management is fueling a perception
Read full articleof embezzlement in the country.
According to the COVID-19 Transparency and Accountability Project (CTAP) report, auditing of pandemic expenditure is needed for transparency and accountability.
Country Director of BudgIT, Ray Nkoom speaking at a launch of the report said, “We need a forensic audit into the COVID-19 expenses to ensure that the funds were not misappropriated as being alleged in the public domain. This will engender confidence in the government and boost credibility in the eyes of development partners.”
Following the onset of the coronavirus pandemic, Ghana has received billions of dollars from development partners and institutions such as the International Monetary Fund (IMF), World Bank, the Bank of Ghana among others which has assisted in the management of the pandemic.
Some findings from the report
The report dubbed, “Transparency and Accountability during COVID-19 Outbreak in Ghana” tracked government spending of funds drawn through loans and grants to mitigate the effects of the pandemic on lives and livelihoods.
According to the report, much of the spending occurred through expedited processes due to the nature of the pandemic and as a result, the risks of corruption, mismanagement and waste were heightened.
It noted, “While the country signed up to processes such as open contracting and beneficial ownership in accessing the funds much has not been done to ensure transparency and accountability in the expenditure.”
“Several contracts for the supply of food and medical products and services were awarded at the height of the pandemic, but details about a few could be found on the government’s electronic procurement platform created to facilitate public procurement processes and reduce human involvement which breeds corruption.”
The report also recognises that the Minister of Finance, Ken Ofori-Atta had appeared before parliament to give details of pandemic-related expenditure, but still maintains forensic audit is required to ensure full disclosure.
“We found that commitments under the IMF’s Rapid Financial Loan Instrument to publish procurement plans, notices, and awards related to the emergency response were largely not complied with,” the report said.
Meanwhile, BudgIT Ghana together with Global Integrity, Economic Governance Platform among other partner anti-corruption civil society groups discussed ways to demand transparency and accountability in public financial management with focus on covid-19 related expenditure.
Dr Yeukai Mukorombindo, a Research Manager at Washington-based NGO, Global Integrity called on “government to facilitate a forensic audit of all covid-19 related expenses to help promote transparency and accountability in the country.”
National Coordinator of the Economic Governance Platform, Felix Ankrah, also urged for open and transparent dialogue with CSOs in taking decisions related to the government’s response to the pandemic.
