Financial lapses in public sector soar 109% – Auditor-General

Financial irregularities within public boards, corporations, and statutory institutions soared by 109% in 2024, climbing from GH¢8.8 billion in 2023 to GH¢18.4 billion, according to the latest report from the Auditor-General.

This dramatic increase marks a sharp reversal of the downward trend seen over the past two years and has reignited serious concerns about the deterioration of financial oversight and the persistent mismanagement of public funds.

The report reveals that irregularities rose across nearly all categories except payroll-related issues, which saw a notable decline from GH¢8.7 million in 2023 to just GH¢191,601 in 2024.

Out of the total GH¢18.4 billion in flagged irregularities, GH¢15.57 billion is considered recoverable.

These include unpaid taxes, locked-up investments, outstanding loans to employees, inter-agency debts, and unretired imprest.

The remaining GH¢2.84 billion relates to administrative lapses, such as procurement breaches and procedural delays.

While these may not lead to immediate financial loss, they signal a troubling pattern of non-compliance with public financial management regulations.

The Auditor-General stressed the urgency of corrective measures.

“We recommended strict implementation of our recommendations to ensure financial discipline in the management of public resources.”