{
  "id": 15201783,
  "title": "Dep. Finance Minister calls for stronger internal controls to protect public funds",
  "url": "https://urgent.news/2026/10/17/dep-finance-minister-calls-for-stronger-internal-controls-to-protect-15201783",
  "topic": "world",
  "section": "World",
  "published": "2026-10-17T12:55:47.000Z",
  "source": {
    "name": "MyJoyOnline Ghana",
    "slug": "myjoyonline-ghana",
    "url": "https://www.myjoyonline.com/dep-finance-minister-calls-for-stronger-internal-controls-to-protect-public-funds/"
  },
  "original_language": "en",
  "account": "Deputy Finance Minister Thomas Nyarko Ampem has advocated for enhanced internal controls within public institutions to curb financial misconduct and shield public resources. Ampem emphasized that robust internal auditing is vital for the proper stewardship of public funds, aligning with the government's New Economy initiative. Addressing attendees at the Institute of Internal Auditors Ghana's 25th anniversary, Ampem urged auditors to shift from reacting to weaknesses to proactively preventing financial losses. He highlighted the necessity of substantial investments in infrastructure, skills, technology, and enterprises to fuel Ghana's development, underscoring the imperative to shield limited public resources from wasteful spending and mismanagement. Ampem expressed the government's commitment to fostering a more industrialized, resilient economy that generates employment, adds value to resources, and enhances livelihoods. However, he noted that while financial irregularities in public institutions have decreased by 62.9 percent from GH¢20.72 billion in 2024 to GH¢7.69 billion in 2025, the remaining irregularities underscore the ongoing need for persistent efforts to bolster accountability and financial management. The Deputy Minister cited audit findings where 8.1 billion Ghanaian cedis out of 68.7 billion claimed were rejected due to issues like insufficient documentation, duplicate claims, falsified receipts, and unfulfilled services. Ampem stressed that it is more effective to prevent improper payments than to attempt recovery post-payment. He called for stronger scrutiny of procurement, payroll, and major investment projects to identify risks early and prevent public fund misuse. Ampem also advocated for the integration of data analytics, digital tools, and continuous risk assessment, emphasizing that digitalization must be underpinned by professional competence, independence of auditors, and managerial accountability. He urged institution leaders to empower auditors, safeguard their independence, and act swiftly on audit recommendations to prevent recurrence of weaknesses. Ampem concluded that the success of the government's New Economy agenda hinges not only on resource mobilization but also on the effective safeguarding and utilization of those resources.",
  "summary": "Speaking at the 25th anniversary of the Institute of Internal Auditors Ghana, Mr Ampem said internal auditors must move beyond identifying weaknesses after they had occurred to helping institutions prevent financial losses.",
  "key_points": [],
  "editors_take": null,
  "illustration": null,
  "coverage": {
    "outlets": 5,
    "also_reported_by": [
      {
        "outlet": "3News",
        "title": "Dep. Finance Minister calls for stronger internal controls to protect public funds",
        "url": "https://urgent.news/2026/10/17/dep-finance-minister-calls-for-stronger-internal-controls-to-protect",
        "published": "2026-10-17T07:34:14.000Z"
      },
      {
        "outlet": "Egypt Independent",
        "title": "FM, Syrian Finance Minister discuss strengthening bilateral cooperation",
        "url": "https://urgent.news/2026/10/17/fm-syrian-finance-minister-discuss-strengthening-bilateral-cooperation",
        "published": "2026-10-17T09:31:42.000Z"
      },
      {
        "outlet": "GBC Ghana",
        "title": "Deputy Finance Minister calls for stronger internal controls to protect public funds",
        "url": "https://urgent.news/2026/10/17/deputy-finance-minister-calls-for-stronger-internal-controls-to",
        "published": "2026-10-17T11:31:07.000Z"
      },
      {
        "outlet": "Joy Business",
        "title": "Dep. Finance Minister calls for stronger internal controls to protect public funds",
        "url": "https://urgent.news/2026/10/17/dep-finance-minister-calls-for-stronger-internal-controls-to-protect-15203664",
        "published": "2026-10-17T12:55:47.000Z"
      }
    ]
  },
  "ai_generated": true,
  "disclaimer": "Summaries, key points and the editor’s take are written by software from other outlets’ reporting and may contain errors — always check the linked original."
}