A public forum has been started by the Institute of Chartered Accountants of Ghana (ICAG) to include key participants in using an effective public financial management (PFM) system for national development.
The forum, which PwC Ghana helped launch in Accra yesterday, will include a number of interactions with a focus on problems including waste reduction, money laundering, and preventing terrorism funding, among others.
Additionally, it looks for areas of weakness, considers achievements, and finds common ground to hasten national progress.
The occasion fit into ICAG's mission to improve stakeholder involvement and contribute to policy and economic decision-making.
Launch
Abena Osei-Asare, a deputy minister of finance, introduced the event and declared that fresh efforts to advance reform and strengthen the PFM system at the national level would support economic change.
The most recent Public Expenditure and Financial Accountability (PEA) evaluation report for Ghana, according to the speaker, underlined the need for more reforms in the PFM environment despite significant interventions to promote transparent, responsible, and effective use of public resources.
"As a people and a government, we have always understood that strengthening PFM is a prerequisite for creating a robust national economy that can resist sporadic foreign and domestic headwinds.
Without a doubt, the recent confluence of crises has had a disastrous effect on the world, regional, and national economies, she continued.
Commendation
The Deputy Minister praised the ICAG for initiating a procedure that encourages open and interesting debate on PFM.
Strengthening the PFM system at the national level would support economic change.
The most recent Public Expenditure and Financial Accountability (PEA) evaluation report for Ghana, according to the speaker, underlined the need for more reforms in the PFM environment despite significant interventions to promote transparent, responsible, and effective use of public resources.
"As a people and a government, we have always understood that strengthening PFM is a prerequisite for creating a robust national economy that can resist sporadic foreign and domestic headwinds.
Without a doubt, the recent confluence of crises has had a disastrous effect on the world, regional, and national economies, she continued.
Commendation
The Deputy Minister praised the ICAG for initiating a procedure that encourages open and interesting debate on PFM.
She stated that the event will address, among other things, gaps created by technology like artificial intelligence (AI), digitization, or system automation, as well as industry standards like sustainable accounting and integrated reporting.
Ms. Dake urged accountants to promote the importance of honesty, openness, responsibility, and knowledge in every sphere of the economy.
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