Topic: Public expenditure and financial accountability framework

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  • 4 Marks

PSAF – Nov 2024 – L2 – Q5c – Functions of the State Interests and Governance Authority

Explains four functions of the State Interests and Governance Authority (SIGA) in overseeing state entities.

The Nine Hundred and Ninetieth Act of the Parliament of the Republic of Ghana entitled the State Interests and Governance Authority Act, 2019 was established to oversee and administer state interests in state-owned enterprises, joint venture companies, and other state entities and to provide for related matters.

Required:

Explain FOUR functions of the State Interests and Governance Authority (SIGA).

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  • 6 Marks

PSAF – Nov 2024 – L2 – Q5b – Nolan’s Principles of Public Life

Explains four of Nolan’s Seven Principles of Public Life, which guide ethical behavior in public office.

 Nolan’s Seven Principles of Public Life serve as guidelines for ethical behavior in public service. They are not typically enforceable through direct legal actions; instead, they often operate as moral and professional standards shaping the behavior of individuals in public office.

Required:

Explain FOUR of these principles.

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  • 4 Marks

PSAF – Nov 2024 – L2 – Q5a – Public Financial Management Regulations

Explains the provisions in PFM Regulation 2019 for a Principal Spending Officer in the payment process and differentiates between misapplication and misappropriation of funds.

a) The Public Financial Management Regulation makes the Principal Spending Officer (PSO) personally responsible for all payments of the covered entity. To mitigate possible risk exposure of the PSO during the payment process, the regulations provide guidance to assist approving authorities before signing off any payment.

In recent times, the Auditor-General has faulted PSOs for infractions such as misapplication of funds, misappropriation of funds, and partially accounted payments among others. Similar observations were cited in the 2023 Management Letter of Nipa Ye Municipal Assembly.

Required:

i) With reference to the PFM Regulation 2019, LI 2378, explain the provisions available to the PSO in the payment process before approval.

ii) Distinguish between misapplication of funds and misappropriation of funds as used by the Auditor-General with an example each.

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  • 10 Marks

PSAF – Nov 2024 – L2 – Q3b – Public Expenditure and Financial Accountability (PEFA) Assessment

Evaluate the financial performance of a local government based on PEFA assessment results and recommend strategies for improvement.

 Accounting and reporting constitute a key pillar of an organised and transparent public financial management system in the public sector. The effectiveness of accounting and reporting reflects the integrity of financial data, the accuracy of in-year budget reports, and the quality of annual financial statements. In a recent Public Expenditure and Financial Accountability (PEFA) assessment, a local government had the following results:

  • Annual financial reporting: D
  • In-year budget report: D+
  • Financial data integrity: C

Required:
i) Explain the assessment performance to the Municipal Chief Executive of the local government.
ii) Recommend two strategies for improving the performance of the local government in each of the assessed areas.

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  • 4 Marks

PSAF – Nov 2016 – L2 – Q2d – Public Expenditure and Financial Accountability Framework.

Identifying essential provisions of the Financial Administration Act to protect public funds.

In Ghana, the government has enacted the Financial Administration Act, 2003 and the Financial Administration Regulations (L.I. 1802) to ensure that public funds and resources are properly safeguarded and are used economically, efficiently, effectively and with due propriety.

Required:
Identify TWO essential provisions of the Financial Administration Act and Regulations meant to protect public funds and safeguard public resources and property. (4 marks)

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  • 8 Marks

PSAF – Nov 2016 – L2 – Q2a – Public Procurement.

Explain the stages involved in the national competitive tendering process for public procurement.

Competitive tendering is a method of public procurement that seeks tenders from all potential suppliers or contractors to achieve value for money in public procurement. Competitive tendering is carried out in accordance with the competitive tendering procedures under the public procurement law.

Required: Explain FOUR procedures involved in carrying out national competitive tendering for the procurement of goods, services, and works. (6 marks)

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  • 4 Marks

PSAF – Nov 2016 – L2 – Q3c – Public expenditure and financial accountability framework.

Discuss four policy objectives ensuring adherence to public accountability principles by government institutions.

Public accountability requires clear definition of responsibilities of public officials and a clear understanding of relationships between public officials and stakeholders on the need for transparency and accountability.
Required:
Discuss FOUR policy objectives of government that ensure that government institutions adhere to the principles of public accountability. (4 marks)

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  • 4 Marks

PSAF – Nov 2016 – L2 – Q4e – Public Expenditure and Financial Accountability Framework.

Identify four procedures necessary for effective management of public expenditure.

Effective management of public expenditure is an essential mechanism for the effective allocation and the use of public funds to achieve the nation’s policy objectives.

Required:
Identify four procedures necessary for effective management of public expenditure. (4 marks)

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  • 4 Marks

PSAF – Nov 2016 – L2 – Q3d – Public sector fiscal planning and budgeting.

Explain four methods used by the government to ensure compliance with budgetary control regulations.

The budgetary control function ensures effective control over government units in public spending and accountability for all funds, property, and other assets for which each department or agency is responsible.
Required:
Explain FOUR methods used by the government to ensure that government entities comply with budgetary control regulations. (4 marks)

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  • 3 Marks

PSAF – Nov 2016 – L2 – Q5e – Public expenditure and financial accountability framework

Discuss how the Controller and Accountant-General ensures public accountability.

“There shall be appointed in accordance with Article 195 of the 1992 Constitution, a Controller and Accountant-General who is responsible to the Minister of Finance.”Required:
Discuss how the Controller and Accountant-General ensures public accountability. (3 marks)

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  • 10 Marks

PSAF – May 2019 – L2 – Q5a – Public expenditure and financial

Describe the composition of the Audit Committee and explain its role in enhancing public financial governance.

a) In an effort to strengthen public financial accountability, the Public Financial Management (PFM) Act, 2016 (Act 921) has introduced an Audit Committee in the covered entities as part of the public financial governance infrastructure to replace the Audit Report Implementation Committee (ARIC). Many experts hold the view that ARIC did not perform well due to lack of independence and legal framework. To address these lapses, the PFM Act paid attention to the composition of the Audit Committee and empowers the Minister of Finance to issue regulations for the effective functioning of the committee. A good number of Audit Committees have since been inaugurated and operational.

i) Describe the composition of the Audit Committee and explain how the structure of the committee could enhance the effectiveness of public financial governance. (5 marks)

ii) Explain THREE (3) responsibilities of the Audit Committees as enshrined in the PFM Act and the related guidelines issued by the Minister of Finance. (3 marks)

iii) Suggest TWO (2) ways by which the effectiveness of Audit Committee can be enhanced. (2 marks)

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  • 10 Marks

PSAF – May 2020 – L1 – Q3a – Public expenditure and financial accountability framework

Explain control objectives in public financial management relevant to the PEFA framework and discuss internal control components.

The Public Expenditure and Financial Accountability (PEFA) framework recognizes the importance of internal control systems in achieving the desired fiscal and budgetary outcomes. Internal control systems play a vital role across every pillar of public financial management. It addresses risk and provides assurance that operations meet the control objectives of the PEFA framework. Therefore, it assesses how effectively the internal control systems operate in the country by making reference to the internal control components developed by other international organizations, specifically the Committee of Sponsoring Organizations (COSO) of the USA.

Required:
i) Explain THREE (3) control objectives in public financial management relevant to the PEFA framework of assessment.
(3 marks)

ii) Discuss FIVE (5) components of internal control in relation to the PEFA Framework.
(5 marks)

iii) Explain TWO (2) limitations of the PEFA Framework for assessing public financial management.
(2 marks)

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  • 5 Marks

PSAF – May 2019 – L2 – Q1c – Public expenditure and financial accountability framework

Explain key PFM challenges that GIFMIS seeks to address in Ghana.

There were several challenges in Public Financial Management in Ghana. As a result, the Ghana Integrated Financial Management Information System (GIFMIS), touted as a flagship system for improved Public Financial Management (PFM) in Ghana, was introduced.

Required:
Explain FIVE (5) key PFM challenges the GIFMIS seeks to address.

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  • 4 Marks

PSAF – May 2020 – L1 – Q1b – Public expenditure and financial accountability framework

Explain the functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003 (Act 658).

Explain TWO (2) functions of the Internal Audit Agency Board as required by the Internal Audit Agency Act, 2003, (Act 658).

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