SIGA Joins Parliamentary Committee to Review 2021 & 2022 Financial Performance of Selected State Enterprises
The State Interests and Governance Authority (SIGA), recently participated in a crucial review of the 2021 and 2022 annual financial performance of selected state enterprises.
The exercise was conducted by the Parliamentary Committee on Employment, Social Welfare and State Enterprises, aimed at evaluating the financial health of these Specified Entities and ensuring the implementation of sound financial practices.
The committee extended a formal invitation requesting SIGA’s presence and expertise in the evaluation process and sat from Monday, August 14th to Saturday, August 19th, 2023, at the Capital View Hotel in Koforidua. SIGA was represented by the Director-General, some divisional heads and other staff.
Throughout the week-long session, the financial reports of the selected Specified Entities (SEs) were thoroughly examined. The process involved in-depth analysis and discussions, with the committee members and other stakeholders raising queries where necessary. These queries led to valuable discussions, allowing for a comprehensive exploration of the challenges and opportunities faced by these entities. SIGA’s team collaborated closely with the committee, offering insights and addressing concerns related to the financial performance of the Specified Entities.
The discussions culminated in a number of recommendations targeted at improving the financial management and efficient operations of the Specified Entities. The representatives of the SEs responded positively to the offered recommendations and demonstrated a commitment to maintaining the sustainability of their entities.
Ambassador Edward Boateng SIGA’s Director-General expressed satisfaction with the outcome of the sessions, highlighting the importance of such interactions in fostering a culture of responsible financial management in the Specified Entities.
“This review not only highlights areas for improvement, but it also demonstrates our commitment to upholding the highest governance standards,” It is a significant step forward in our combined efforts to create trust, responsible management, and long-term growth in Specified Entities.” he stated.
Other key stakeholders present for the review were the Minister for Public Enterprises, Hon Joseph Cudjoe, the Chief Director of the Public Enterprises Secretariat, Ms. Christina Edmund, Mr. John Nwozah and Mr. Alexander Koomson, Assistant Auditor-Generals with the Ghana Audit Service.