Sissala East MP Mohammed Issah Bataglia has questioned how a state-owned enterprise could operate for seven years without producing financial statements.
“How is it possible for a state-owned enterprise to run for seven years without financial statements? How is it possible?” he asked.
His comments come after an International Monetary Fund (IMF) Technical Assistance Report revealed significant weaknesses in the financial management of Ghana’s State-Owned Enterprises (SOEs).
The report, drawing heavily on the Auditor-General’s assessment of public accounts, put the financial management issues recorded by SOEs at approximately GH¢18.6 billion.
Bataglia’s concern highlights questions over the level of financial accountability within state-owned enterprises and how management could operate for several years without updated financial statements.
The IMF report also identified massive fiscal leakages within the SOE sector, with the energy and utility sectors accounting for a significant share of the problems.
