News:
Commissioner for Finance
May 16, 2022
The Commissioner for Finance at the Economic Community of West African States (ECOWAS) Commission, Mrs Halima Ahmed said the inherited problem of preparing financial report has been addressed and happy about the collaboration between the Commission and Parliament.
According to her when the current Finance Management assumed office in March 2018, there were backlog of financial statements that were not prepared dating back to four (4) year pending audit.
“Fast forward today, I am proud to report that we have updated our accounts, produced financial statements and got them audited using the International Public Accounting Standards (IPSAS)”.
And added that, they have, also produced consolidated Financial Statements of all ECOWAS institutions, and by next month June 2022 they would publish the Financial Statements in line with the provisions of ECOWAS Financial Regulations.
Again, with that the financial situation of ECOWAS will be regularly available to the citizens for their appreciation, thereby improving public accountability.
Under the current management, the implementation of the enhanced powers of the Parliament commenced with the consideration of the budget of the Community.
Mrs Halima Ahmed made this remarks in Lome-Togo at the commencement of a five days joint Committee meeting involving Public Accounts | Administration, Finance and Budget | Macroeconomic Policies and Economic Research | Trade, Customs and Free Movement of the ECOWAS Parliament which started on Monday, May 16, 2022.
She further noted that the significant step in the direction of public accountability and the opinions expressed on the budget now constitute a core part of the budget approval process by Council of Ministers.
Moreover, they have revised the ECOWAS Protocol on Community Levy and replaced it with a Community Levy Act. The new Act has made some provision for the role of the ECOWAS Parliament in Community Levy mobilization.
Therefore, little by little, they are seeing the enhancements in the role of Parliament in the community integration process. However, these changes also confer on the Parliamentarians more responsibility.
In addition, the responsibility to devote more time and attention to fine details, to establishing a connection between what they do at the regional level and the situation of their constituencies. It is therefore, encouraging that this Joint Committee will be examining the specific provisions of the Supplementary Act of the Parliament on consideration of the Community Audit Reports.
“Again, as a pioneer Secretary General of the ECOWAS Parliament and presently Commissioner for Finance, will continue to provide the Parliament with the necessary support that it requires”.
Kwaku Sakyi-Danso/Ghanamps.com/Lome-Togo