18.5 C
Wednesday, August 12, 2020

Accountant General to sign tertiary institutions onto Ghana Integrated Financial Management Information System (GIFMIS)

Must read

Gaddafi’s last words as he begged for mercy: ‘What did I do to you?’

Osama Swehli is bearded and wears his hair long, tied back in a thick ponytail. A soldier with the National Transitional Council’s...

Ghanaian who invented water bicycle makes a sweeping bicycle

The adept young Ghanaian engineer known for the famous water bicycle invention has proven he has a bag of ideas as he...

40-year-old man lynched in Nyankpala in the Northern Region

A 40-year-old man has been lynched in Nyankpala in the Northern Region for stealing goats and sheep.On the...
Christopher Sam
Christopher Sam is a web designer, developer and has advanced knowledge in Search Engine Optimization, Responsive Website Design, Emails Marketing, BULK SMS Messaging, Schema Markup and a certified Google Trainer. He is a creator and editor at Hypercitigh.com, an online digital platform focusing on Credible and Timely news and in Ghana.

The Controller and Accountant General’s Department (CAGD) has started a programme to sign public tertiary institutions onto the Ghana Integrated Financial Management Information System (GIFMIS).
Currently, public universities conduct financial transactions outside the GIFMIS platform contrary to the Public Financial Management Act, 2016 (Act 926).
The Acting Controller and Accountant General, Mr K. K. Bosompem, told the Daily Graphic yesterday that his department was providing technical support to the tertiary institutions to enable them to be on the GIFMIS, which tracks and harmonises all payments from the Consolidated Fund.
He said the CAGD was also providing them with the guidelines to help the institutions onboard by the end of August 2019.
Mr Bosompem said authorities at the various tertiary institutions were complying with the CAGD towards a successful implementation. The acting Controller and Accountant General indicated that ministries, departments and agencies (MMDAs) were already on the GIFMIS platform.
He said the successful implementation of the project formed part of the department’s resolve to put all government subvented public institutions on the GIFMIS. Offence
Mr Bosompem stressed that it was an offence for subvented institutions in the country to continue to undertake any financial transactions outside the Ghana Integrated Financial Management Information System (GIFMIS).
“All workers in public universities are to be onboard to avoid sanctions,” he said.
Meeting Mr Bosompem has already held a sensitisation forum for heads of tertiary institutions, finance officers and accountants to explain the benefits and objectives of GIFMIS to them.
He urged them to disregard the erroneous impression that GIFMIS would deprive them of their internally generated incomes.
He explained that the core objective of GIFMIS was for comprehensiveness and transparency in public financial management, as well as for the promotion of electronic financial transactions as the country moved towards the global trend of paperless financial services and economies.
Tertiary Education Council The Executive Secretary of the National Council for Tertiary Education (NCTE), Professor Mohammed Salifu, in his remarks during the forum, said the use of GIFMIS was going to be one of the key issues for auditing and that the challenge was now for all such institutions to do the right thing or face the consequences of the law.
He expressed gratitude to the CAGD for partnering the NCTE and the Ministry of Education to sensitise the institutions to GIFMIS, especially for the finance and treasury officers of the tertiary institutions.
Background Ghana Integrated Financial Management Information System (GIFMIS) is an integrated computerised financial management system that facilitates budget preparation and execution, accounting and financial reporting; cash management, assets management, human resource and payroll management in the public sector.
It brings all government payments into a centralised location and in most cases make a direct transfer of funds to the payee, as the system is linked to the government’s accounts at the Bank of Ghana.
It is part of a wide range of reforms by the government introduced to improve fiscal discipline, contain the deficit and eliminate corruption as part of a concerted effort to ensure good governance.
As of March 2018, 156 MDAs, MMDAs and other state agencies had been migrated onto the system.

Source: Graphic.com.gh

More articles

Latest article

I’ll expose you if you don’t stop talking ‘rubbish’ – Koku Anyidoho warns Kwesi Pratt

Samuel Koku Anyidoho, Founder and Chief Executive Officer of the Professor Atta Mills Institute, has warned Managing Editor of the Insight Newspaper,...

See Pictures Of Gaddafi’s “Libyan Rocket” That Could Have Been The Safest Car On The Planet

Former Libyan leader Muammar Gaddafi’s quest to ride in one of the safest cars ever led to the unveiling a 5-seater car...

Gaddafi’s last words as he begged for mercy: ‘What did I do to you?’

Osama Swehli is bearded and wears his hair long, tied back in a thick ponytail. A soldier with the National Transitional Council’s...

Rare pictures of colonel Gaddafi and his “virgin female bodyguards”

Muammar Gaddafi, popularly known as Colonel Gaddafi, had an obsessive interest with female bodyguards. The Libyan ruler was escorted by his bodyguards...

I wish I had creative skills to do music like my son – Tsatsu Tsikata

Astute Lawyer and a leading member of the National Democratic Congress (NDC) Tsatsu Tsikata has said that he wishes he had the creative skills...