CAGD introduces new Public Sector Financial Management System

A major Public Financial Management reform is currently underway in the country to eliminate corruption and enhance efficiency in the public sector financial management.

The project dubbed the Ghana Integrated Financial Information System (GIFMIS) is being jointly funded with a $60 million grant from the World Bank, The European Union, DANIDA and UK Aid.

GIFMIS involves the transition from manual processing of some major public sector financial transactions to a centralised electronic platform that will be used nationwide by Ministries, Departments and Agencies (MDAs) and Metropolitan, Municipal and District Assemblies (MMDAs) to process these transactions.

The financial tools being integrated into a single platform include Accounts Receivable, Accounts Payable, General Ledger, Purchasing and Cash Management.

As part of the implementation of the project, which began in 2011, a series of nationwide regional workshops are being held for potential end-users and other decision makers in the management of public finance at the regions. They include Regional Coordinating Directors, Regional Heads of Departments, Regional Accountants, auditors.

Alhaji Amin Sahnoon, a functional  GIFMIS  programme Specialist, who addressed the workshop in Kumasi for   80 participants in the Ashanti Region on Tuesday  intimated that the GIFMIS platform had been introduced  to most head offices of   Ministries, Departments and Agencies(MDAs)  in Accra and that  some of the modules were  being used for government transactions.

He said the platform was embed with check and balances to enhance transparency and monitoring, which will help  to eliminate  the possibility of corrupt activities  in    public finance transactions.

Alhaji Shanoon stated that all regional offices  will be expected to start using the platform by the close of November 2012, with the expectation that by the close of June 2014, all public sector institutions that were engaged in business transaction with the Controller and Accountant General (CAGD) will be working with the system.

He indicated that when the GIFMIS systems were fully automated, no MDA and MMDA will be able to transact financial business with CAGD without using the platform.

“Beside enhancing transparency and curbing corruption, when fully operational, the GIFMIS tools   will also enhance Public Financial Management through reliable financial reporting for informed planning and decision making”, the Programme Specialist observed.

A similar programme has also been held in Sunyani for 60 participants in the Brong Ahafo Region.

Source: GNA

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