Deputy Finance Minister calls for stronger internal controls to protect public funds

Thomas Nyarko Ampem, Deputy Minister for Finance, has advocated for enhanced internal controls within public institutions to curb financial irregularities and safeguard limited resources. Speaking at the 25th anniversary of the Institute of Internal Auditors Ghana, he emphasized that robust internal auditing is vital for proper management and allocation of public funds in line with the government’s New Economy strategy.

Ampem argued that internal auditors should shift from merely identifying weaknesses to actively preventing financial losses. He stressed the importance of protecting scarce resources from wastage and mismanagement, given Ghana’s ambition to develop a more productive, industrialized and resilient economy that generates jobs and improves livelihoods.

Although noting a 62.9% reduction in financial irregularities in 2025 compared to 2024, Ampem acknowledged that the remaining irregularities highlighted the need for continued efforts to bolster accountability and enhance public financial management. The Deputy Minister also presented audit findings from the government’s legacy arrears and payables, revealing that out of GH¢68.7 billion in claims, GH¢8.1 billion were rejected due to issues like insufficient documentation, duplication, falsified receipts, and uncompleted work.

He urged internal auditors to intensify their scrutiny of procurement procedures, payroll systems, and major public investments to detect risks early and prevent misuse of public funds. Ampem called for the incorporation of data analytics, digital tools, and continuous risk assessment, stressing that digitalization must be backed by professional expertise, independence of internal auditors, and accountability from management.

He urged institution leaders to empower internal auditors, maintain their independence, and promptly act on audit recommendations to avoid recurring weaknesses. Ampem concluded that the success of the government’s New Economy agenda hinges not just on mobilizing resources but also on effectively safeguarding and utilizing them, warning against repeating past habits of waste, inadequate controls, and avoidable financial losses.