The Controller and Accountant General, who is appointed by the President in accordance with Article 195 of the constitution and recognized as the Chief Advisor to the Minister of Finance and government in matters relating to accountancy, has urged all Metropolitan, Municipal, and District Assemblies (MMDAs) to strictly comply with a directive to use the Ghana Integrated Financial Management Information Systems (GIFMIS) platform for all government businesses. In effect, the budgeted funds for these MMDAs would be blocked or not released to any State Agency that refuses to enroll and go live on the GIFMIS Platform.

Required:
i) Explain FIVE (5) other responsibilities of the Controller and Accountant General in accordance with section 8(4) of the Public Financial Management Act, 2016 (PFMA) Act 921.
(5 marks)

ii) Identify FIVE (5) objectives for the adoption of GIFMIS.
(5 marks)

i) Responsibilities of the Controller and Accountant General under PFMA Act 921
The Controller and Accountant General has several responsibilities under section 8(4) of the Public Financial Management Act, 2016 (PFMA) Act 921, including:

  1. Compile and manage the accounts prepared in relation to public funds.
  2. Issue general instructions to a Principal Spending Officer in accordance with the Act and its regulations.
  3. Keep, render, and publish statements on public accounts under the Act.
  4. Develop efficient accounting systems for covered entities to ensure accurate and timely financial reporting.
  5. Approve accounting instructions of covered entities to ensure consistency with public financial management practices.
  6. Receive, disburse, and provide secure custody for public funds.
  7. Authorize the opening of accounts with the Bank of Ghana and its agents for the deposit of public funds.
  8. Provide accounting officers to covered entities and be responsible for the classification and management of value books.

ii) Objectives for the adoption of GIFMIS
The adoption of the Ghana Integrated Financial Management Information Systems (GIFMIS) is aimed at achieving the following objectives:

  1. Improve treasury and budget control by providing a comprehensive and integrated financial management system.
  2. Eliminate redundancies and integrate data to ensure better financial control and reduce costs.
  3. Enhance strategic and day-to-day decision-making through quick availability of data and management information systems (MIS).
  4. Improve efficiency and transparency in financial management processes, reducing the risk of fraud and malpractices.
  5. Facilitate better cash flow management and budget control, ensuring that expenditures are aligned with available resources.
  6. Ensure better interface with financial institutions such as the Bank of Ghana and commercial banks, enhancing financial operations.
  7. Support debt and grant tracking from various agencies to the State, ensuring accurate financial reporting and accountability.
  8. Enhance fiscal budget management and control, leading to more predictable financial flows.