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Economy

Be cautious with new currency-Accountants urged

Alhaji Mustapha Ali Idris, Northern Regional Minister, has cautioned accountants of Ministries, Departments and Agencies (MDAs) to be extremely careful in financial transactions involving the new currency. He said the transition from the old to the new currency was a delicate one and if care was not taken the addition or deletion of a single figure could have serious implications for the MDAs or the individual doing the transaction. Alhaji Idris was addressing a one-day workshop for Heads of Departments and Accountants of the various MDAs and staff of some selected District Assemblies in Tamale on Monday. The workshop is the first in the series of four to be organised in the country under the Multi-Donor Budget Support Programme (MDBS) by the Government, the Audit Service and the country's Development Partners. It is aimed at addressing the lapses noted in audits conducted by the Price Water House Coopers into the accounts of the Ministry of Local Government, Rural Development and Environment (MLGRDE), the Ministry of Food and Agriculture (MOFA) and 15 selected Metropolitan, Municipal and District Assemblies (MMDAs). Alhaji Idris urged personnel of the Controller and Accountant-General's Department (CAGD) not to limit their work to auditing the accounts of the district assemblies alone, but to offer advice and guidance to their accounting personnel. He said this was particularly important in view of the fact that most of the assemblies in the Northern sector of the country lacked qualified personnel to effectively manage their accounts. Mr. Edward Duah-Agyeman, the Controller and Accountant General in a speech read on his behalf said the workshop was aimed at primarily, ensuring that there was efficiency in the public financial management system. He said the workshop was very crucial and urged participants to be forthcoming with their observations and comments on the issues at stake saying: "It is a brainstorming exercise for which we the facilitators are only here to give you the needed guidance". Source: GNA

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