The three-day gathering is under the auspices of the Controller and Accountant-General of Ghana, in partnership with the African Association of Accountants-General (AAAG) secretariat.
Coming on the heels of the second AAAG conference held from December 2 to 5, 2024 in Arusha, Tanzania, the conference in Accra, which is the third edition, will be held at the Accra International Conference Centre (AICC) as a pivotal platform for public sector professionals led by Accountants-General and strategic partners in the Public Financial Management (PFM) value chain to engage in high-impact dialogue.
Attendance
It brings together offices of the Accountants-General from across the African continent and serves as a strategic platform for fostering excellence in PFM through collaboration, knowledge sharing, technical assistance and capacity building for enhanced service delivery and sustainable development across African nations.
The conference further provides a platform for networking with high-level government officials, international development partners and fellow public sector accountants. Participants can also build relationships, exchange ideas and collaborate with peers who are facing similar challenges in PFM.
With sessions focused on topics such as cyber security, AI in public value management and sustainability initiatives, attendees will have the opportunity to explore how innovative technologies and best practices can be leveraged to improve financial management and governance in their respective countries.
They will also discuss the challenges faced by the member states in managing public finance and exploring actionable solutions while examining best practices, sharing experiences and engaging in constructive discussions that will shape the future of PFM in Africa and forge pathways for economic prosperity that benefit all citizens of the African nations.
Together, participants can build an Africa that is prepared for tomorrow, where sound financial management leads to sustainable development and improved livelihoods.
This year’s event is on the theme: “Africa of tomorrow – Positioning public financial management for economic prosperity.”
As African nations strive for stronger governance and enhanced service delivery, the theme for the conference is very appropriate and, therefore, the engagement is expected to delve into how the continent can reform its PFM systems to tackle both current and future challenges through cutting-edge solutions such as digitalisation, climate-responsive budgeting and robust fiscal governance.
The AAAG is a Pan-African organisation established under the auspices of the African Union (AU) to drive transformation, enhance transparency and ensure accountability in the management of public resources.
What to expect
It is in this vein that this year’s AAAG conference is expected to harness digital tools and Artificial Intelligence (AI) in financial governance, build climate resilience and integrate sustainability into public budgeting while navigating responsible debt management in uncertain times.
Other topics to be discussed within the three days are: Fostering a culture of fiscal prudence, expanding e-invoicing and digital payment systems, advancing accrual-based IPSAS and enhancing IFMIS capacity, combating digital fraud and illicit financial flows, as well as transforming public sector institutions and investing in human capital.
It is believed that the rapidly changing global landscape places a more crucial demand for effective PFM, since PFM is the bedrock upon which sustainable economic growth can be built, ensuring accountability and promoting transparency in the management of our nations’ resources.
PFM is believed to be the backbone of various economies on the continent and it is believed to be essential for ensuring accountability, transparency and efficiency in the management of public resources.
Ghanaian situation
In Ghana, some critical laws have been promulgated to provide robust and comprehensive financial reporting on public finances.
These include the Public Financial Management Act, 2016 (Act 921), Public Financial Management Regulations 2019, Public Procurement (Amendment) Act 2016, Act 663, Internal Audit Agency Act 2003, Act 658 and other related legislation in the 1992 Constitution of Ghana, which provides a guide for the management of public funds in Ghana.
Above all, one key PFM reform that has been undertaken by Ghana to strengthen PFM is the implementation of the Ghana Integrated Financial Management Information System (GIFMIS), which has brought in its wake significant improvements in the quality and timeliness of financial reporting as required by the PFM Act and the other related laws.
It is worth mentioning that conditions present in GIFMIS are helping to facilitate International Public Sector Accounting Standards (IPSAS) accrual accounting, while the adoption of IPSAS is also said to have significantly improved both the quality and comparability of financial information reported by the Department in the National Account of Ghana.
