Cash Irregularities

31 Jul

¢1.412Bn Recorded As Financial Irregularities In MDAs In 2022 – Auditor-General Report

wontumionlineBusinessAuditor-General report, Cash Irregularities, Financial irregularities, tax irregularities

About ¢1.412 billion were recorded as financial irregularities in 2022, the 2022 Auditor-General on the Public Accounts of Ghana has revealed. This is ¢332 million more than the ¢1.080 billion recorded in 2021. The financial irregularities include Tax Irregularities (¢1.247 billion); Cash Irregularities (¢57.471 million); Indebtedness/Loans/Advances (¢89,744 million); Payroll Irregularities (¢14.254 million); Stores/ProcurementIrregularities (¢321,950); Rent Irregularities (¢2.142 million) and Contract Irregularities (¢556,333). Tax Irregularities Tax irregularities of ¢1.247 billion formed 88.3% of the total financial infractions reported. Included in this tax irregularity was ¢327.63 million due from 18 Oil Marketing Companies (OMCs) that defaulted in paying their rescheduled debt between…

30 Aug

Total Irregularities In Public Sector Organisations In 2021 Increased 36% To ¢17.48bn

wontumionlineBusiness2021 Auditor Gneral's report, Cash Irregularities, irregularities, procurement irregularities

Total irregularities in public sector organisations in 2021 stood at ¢17.48 billion in 2022, the latest 2021 Auditor General’s Report has revealed. This is a 36.0% or ¢4.62 billion rise from ¢12.856 billion in 2020. It included $522.18 million converted into cedis at the prevailing exchange rate of ¢6.006 to $1 as of December 31, 2021, €1.484 billion converted into cedis at the prevailing exchange rate of ¢6.82 to €1 as of December 31, 2021 and £729,161 converted into cedis at the prevailing exchange rate of ¢8.127 to £1 as of December 31, 2021. According to the report, the irregularities…