Tag (SQ): Transparency
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- 20 Marks
Explain the relevance of financial statement discussion and analysis for a public healthcare facility.
Question
The management of a Central Healthcare Facility demands that the Director of Finance should ensure that the financial statements of the entity are laid before the oversight board together with financial statement discussion and analysis. However, some members of the board question the relevance of the request.
Required:
(a) As the Director of Finance, explain the relevance of the request to the healthcare facility.
(b) Discuss the five limitations of financial statement discussion and analysis.
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- 20 Marks
Explain steps to implement NIFMIS and discuss five benefits for a covered entity's financial management system migration.
Question
The principal spending officer of the covered entity where you work as a financial officer wishes to migrate the entity’s financial management system onto the Nigeria Integrated Financial Management Information System (NIFMIS) platform, in accordance with the provisions of the Public Financial Management Act 2019. However, he has a limited understanding of the steps involved in the implementation.
Required:
(a) Explain to the principal spending officer, the steps involved in implementing the NIFMIS in the entity.
(b) Discuss five benefits of implementing NIFMIS in the entity.
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- 10 Marks
Discuss five challenges of public financial management before the implementation of the Integrated Financial Management Information System.
Question
Before the implementation of the Integrated Financial Management Information System (IFMIS), public financial management faced numerous challenges.
Required:
Discuss five challenges of public financial management prior to the implementation of the IFMIS platform.
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- 20 Marks
Discuss roles of EOCO, OSP, PAC, and FIC in promoting ethics and accountability in public sector management.
Question
Ethics management is the responsibility of every organisation; however, certain institutions are specifically established to champion ethical practices and accountability in public sector management.
Required:
Discuss five roles of each of the following institutions in relation to ethics and accountability:
(a) Economic & Organised Crime Office;
(b) Office of the Special Prosecutor;
(c) Public Accounts Committee; and
(d) Financial Intelligence Centre
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- Tags: Accountability, Corruption, EOCO, Ethics Management, FIC, Financial Crimes, OSP, PAC, Public Sector, Transparency
- Level: Level 2
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- 15 Marks
Discuss five roles of IPSASB in global financial reporting.
Question
The International Public Sector Accounting Standards Board (IPSASB) plays a critical role in regulating public sector accounting and reporting practices worldwide.
Required:
(a) Discuss five roles played by the IPSASB in the financial reporting space globally.
(b) Discuss the position of the Government of Kapania on the IPSAS.
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- 20 Marks
Discuss the object of the Public Procurement Act 2003, Act 663, as amended by Act 914 in 2016.
Question
The Public Procurement Act 2003, Act 663 (amended by the Public Procurement Amendment Act, 2016, Act 914) was enacted to establish an oversight authority and regulate public procurement activities within the public sector.
Required:
(a) Discuss the object of the Public Procurement Act 2003 Act 663 (Public Procurement Amendment Act, 2016, Act 914).
(b) Explain the functions of the Public Procurement Authority in terms of
(i) procurement policy making;
(ii) capacity building of procurement practitioners;
(iii) procurement information system;
(iv) anti-corruption in public procurement; and
(v) monitoring and evaluation of public procurement.
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- 20 Marks
Discuss views on ineffective PFM laws in Ghana and justify need for reforms.
Question
A leader of a prominent Accountability Civil Society Organisation remarked, “Laws don’t work in Ghana. We have all the laws in public financial management but they do not have any effect, so I don’t see the need to waste more resources on reforming our public financial management enactments.”
Required:
(a) Discuss the views expressed in the quote above and explain why reforms of public financial management laws are necessary.
(b) Explain the limitations of public financial management laws in Ghana.
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- 20 Marks
Discuss seven PEFA pillars for building a public financial management system in a developing country.
Question
You have been appointed as the consultant to develop a robust public financial management system for a developing country.
Required:
(a) Discuss seven pillars upon which you will build your public financial management system, referencing the PEFA framework.
(b) Explain three outcomes you would expect from the public financial management system you have designed, guided by the PEFA framework.
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