Finance Ministry to establish compliance desk under new PFM Act reforms

Ghana’s Ministry of Finance will create a Compliance Desk. This desk aims to ensure adherence to the revised Public Financial Management (PFM) Act, 2025.

The Minister of Finance, Dr. Cassiel Ato Forson, announced this initiative. It shows the government’s commitment to fiscal discipline and oversight in public institutions.

Dr. Forson noted that many financial regulations are being breached. For example, contracts are often awarded without commencement certificates. This has led to inefficiencies and budgetary gaps, which he finds troubling.

The updated PFM Act allows the Ministry to issue commencement authorizations directly. This change strengthens its ability to monitor public spending effectively.

Dr. Forson made this announcement during a meeting with the World Bank delegation. The delegation was led by Vice President Ousmane Diagana.

He explained that the Compliance Desk will enforce rules and promote transparency in financial management. The desk will monitor compliance and intervene when institutions do not follow procedures.

Additionally, the Compliance Desk will introduce a Compliance League Table. This table will rank institutions based on their adherence to financial rules.

The table will be public, encouraging competition and accountability among entities. It aims to highlight both good and poor financial governance in state institutions.

Dr. Forson warned that repeat offenders would face sanctions for non-compliance. He emphasized the seriousness of curbing fiscal indiscipline.

“We want every program we implement to deliver maximum efficiency,” he stated. “This is how we build a disciplined and prosperous Ghana.”