Accountants urged to support economic transformation

The commitment of heads of finance and treasury officers of ministries, departments and agencies (MDAs) to efforts to reform and bring sanity into public financial management is critical to the government’s economic transformation agenda, the Controller and Accountant General, Mr Eugene Ofosuhene, has said.

He stated that the accountants and treasury officers were expected to play key roles in the effective implementation of the various policy reforms aimed at ensuring transparency in the management of the public purse.

Meeting with staff

Mr Ofosuhene made the assertion in Accra when he interacted with staff of the Controller and Accountant General’s Department who are working as heads of finance and treasury officers in MDAs.

He called on the accountants to realise that their functions were not limited only to the disbursement and receipt of funds but that they were part of the overall management team of whichever institution they found themselves in and must work to attain the goals and objectives of the ministries.

Treasury Single Account

The Controller and Accountant General disclosed that from August this year, the government would roll out a new fiscal policy, the Treasury Single Account (TSA), which would make it mandatory for the bank accounts of MDAs to be managed from a single ‘mother’ account at the Bank of Ghana and also eliminate the incidence of MDAs operating multiple bank accounts.

According to Mr Ofosuhene, the requisite education and sensitisation on the TSA has started to ensure that all MDAs are adequately prepared for the implementation of the policy.

He assured the accountants of the resolve of the Controller and Accountant General’s Department to support its staff to enable them to discharge their duties as ambassadors of the department and good apostles of the accounting profession.