By
Julius K. Satsi, GNA
Accra, Jan.14, GNA –
Professor Ebenezer Oduro Owusu, the Vice Chancellor of the University of Ghana
(UG), has challenged government to promote the adoption of the International
Public Sector Accounting Standards (IPSAS) towards achieving the Ghana Beyond
Agenda.
He said adopting the
IPSAS would enable the country to accurately report all transactions under the
internationally accepted best practices for better financial reporting.
The IPSAS are a set
of accounting standards issued by the IPSAS Board for use by public sector
entities around the world in the preparation of financial statements aimed at
increasing transparency and accountability.
Addressing the
opening session of the 71st Annual New Year School and Conference
(ANYSC), Prof Oduro Owusu said to achieve the country’s vision of a Ghana
Beyond Aid, there ought to be fiscal discipline in all national transactions
and across all sectors starting from the Ministries, Departments and Agencies.
The Ghana Beyond Aid
is a bold pronouncement by President Akufo-Addo to create a nation that is
self-sufficient and prosperous through prudent management of resources, the
rule of law, promotion and respect for human rights as well as principles of
democratic accountability.
The ANYSC, which was
introduced in 1948 by the School of Continuing and Distance Education of the
College of Education, UG, aims at bringing together people from all walks of
life to deliberate on topical issues of national and international interest
with speakers drawn from both academia and industry.
This year’s being
held on the theme: “Attaining Ghana Beyond Aid: Prospects and Challenges,” was
formally opened by the President Nana Addo Dankwa Akufo-Addo.
Prof Oduro Owusu
said a transparent financial reporting would positively affect resource
mobilisation and bring efficiency in resource allocation and utilisation
towards creating more opportunities for the citizenry.
He said the
University of Ghana had adopted the standards and had already published its
first audited IPSAS compliant financial statement for the year 2017, making it
the first public institution in the country to adopt the accounting framework.
He urged other
public institutions to follow the practice to ensure accountability and
transparency in the country’s accounting systems “as we aim at building a
better Ghana”.
Prof Akua Kuenyehia,
the Acting Chairperson of the University Council, commended the School of
Distance Learning for sustaining the Annual New Year School and Conference
since its inception in 1948.
She said the Ghana
Beyond Aid vision by President Akufo-Addo was a non-partisan agenda, which
should be embraced by all Ghanaians towards making Ghana a better place for
all.
Prof Kuenyehia said
the 71st Annual New Year School and Conference would provide the
needed resources and materials for the successful implementation of the Ghana
Beyond Aid agenda.
President Akufo-Addo
at the 2019 May Day celebration in Accra, unveiled the Ghana Beyond Aid charter
and strategy document to guide the nation in the agenda.
Dr Ishmael Yamson,
Former Chairman of the UG Council, in a keynote address, said to achieve the
Ghana Beyond Aid agenda, there was the need to build strong institutions and
improve governance.
He said the greatest
threats to the success of the Ghana Beyond Aid agenda was whether or not the
government could demonstrate credibly that it has the politically will to fight
and win the battle against corruption.
Commenting on the
need to rejuvenate the local economy and build a strong manufacturing base, Dr
Yamson said: “We need sustained period of 10 years or more of macro-economic
stability driven by prudent and disciplined fiscal management to generate
investor confidence, otherwise all we will attract are traders.”
GNA