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CW Report: How Airport Company, Ghana Post and Graphic managers sat on workers’ pensions and taxes

The Auditor-General has indicted some public companies and corporations for mishandling workers funds as well as taxes they should have paid to the Ghana Revenue Authority. 

The Auditor-General cites the Ghana Post Company Limited, Ghana Airport Company, Graphic Communications Group Limited, The New Times Corporation (popularly called Ghanaian Times) and the Architectural and Engineering Services Limited (AESL) for malpractices including failing to pay taxes, pensions and insurance deductions to respective institutions and funds.

It must be stated that many of the findings relate to occurrences in 2017, 2018 and 2019 financial years even though the details are captured in the Report of the Auditor General on the Public Accounts of Ghana – Public Boards, Corporations and Other Statutory Institutions for the year ended 31 December 2020.

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The Auditor-General reveals that the total financial irregularities found in this round of audit at public boards, corporations and other institutions stood at GH¢12,856,172,626 as at the end of December 2020.

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PPA, KNUST, UPSA, Graphic, others lead list of internal audit lawbreakers

Left: Prof (Mrs) Rita Akosua Dickson, VC, KNUST
Right: Mr. Frank Mante, Ag. CEO, PPA

Corruption Watch has discovered that a high number of regulatory bodies and academic institutions have broken the law requiring them to file annual internal audit plans and quarterly internal audit reports.

A total of 15 regulatory bodies and 12 academic institutions stand accused for defaulting in the submission of required reports as at the end of December 2020. The Public Procurement Authority (PPA), the State Interest and Governance Authority (SIGA), Kwame Nkrumah University of Science and Technology (KNUST) and University of Professional Studies, Accra (UPSA), Graphic Communications Group Limited are among high profile regulatory,  academic and state institutions, which defaulted in the submission of reports to the Internal Audit Agency (IAA).

The Internal Audit Agency and its staff are supposed to carry out audits before, during and after spending. The expectation, therefore, is that they are in a better position to ‘catch’ the thief before or during the ‘stealing’, making it easier to recover stolen public funds.

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