The failure of an accountant of the Tema Oil Refinery (TOR) to prepare monthly bank reconciliation statements has resulted in the loss of GH¢1,561,434,333.31 to the state, the Auditor General’s Report has established.
The amount which covered the period between January and September 2015 was said to have been debited to the petroleum revenue account without the knowledge of TOR management.
Among other things, the report identified that no explanation was provided for the withdrawal.
The 2016 Report of the Auditor-General on public accounts of Ghana including Ministries, Departments and other Agencies (MDAs) signed by Daniel Yaw Domelevo, the Auditor-General, copied the Speaker of Parliament, recommended that the withdrawal should be investigated and officials involved in the act sanctioned.
It further urged that the accountant should prepare monthly reconciliation statement to enable prompt action to be taken on such deviations.
According to the report captured under the heading:”Ghana Revenue Authority (GRA) Customs Division-Tema Oil Refinery (TOR),” the amount was debited to the petroleum revenue account at the Bank of Ghana.
The report formed part of the overall weaknesses and irregularities identified in the course of audit which amounted to GH¢2,165,542,375.14.
The irregularities occurred in the areas of tax, cash, outstanding debts/loans, payroll, contract, rent payment and stores/procurement.
In a related development, the report identified that 549 companies, business entities and individuals owed GH¢6,806,899.00 and $61,506.00 in corporate taxes for the 2015 year of assessment.
The companies, individuals and businesses were part of the 1,555 selected tax files reviewed from 10 domestic tax revenue points in the Greater Accra Region.
The Auditor-General has urged management to increase its enforcement role to collect all the outstanding tax revenues.
Meanwhile, the office of the Auditor-General has surcharged 62 organisations for receiving payments from the state without any documentation.
Source: The Ghanaian Times
Disclaimer: Opinions expressed here are those of the writers and do not reflect those of Peacefmonline.com. Peacefmonline.com accepts no responsibility legal or otherwise for their accuracy of content. Please report any inappropriate content to us, and we will evaluate it as a matter of priority. |
Did they have a finance manager? What a joke of a nation because they might have employ squire pegs in round holes.
So every month they collect salaries for no work done? I can't believe this. Ghana dey bee oo
Then let them come for me for a permanent Job so that I will always prepare the monthly bank reconciliation for them.Peacefmonline.com tell them for me.
kindly employ new finance people to do the work