The Auditor-General has uncovered major errors and weaknesses in Ghana’s 2024 Whole-of-Government Accounts (WGA), including an overstatement of public debt by GH¢138.91 billion, raising fresh concerns over fiscal transparency and accountability.

The findings are detailed in the Report of the Auditor-General on the Public Accounts of Ghana for the Year Ended 31 December 2024, following an independent audit of the government’s consolidated accounts prepared by the Controller and Accountant-General’s Department (CAGD) under the Public Financial Management Act, 2016 (Act 921).

According to the report, the debt figure captured in the WGA was significantly inflated. The Auditor-General recommended that the CAGD, together with the Ministry of Finance, conduct a thorough reconciliation to correct both overstatements and omissions.

It also highlighted that GH¢74.24 billion booked as provisions for investments should have been treated as impairment losses under International Public Sector Accounting Standard (IPSAS) 41. The report urged the CAGD to tighten its quality assurance processes to prevent such misclassifications.

Other key findings include:


  • Revenue reporting gaps: Assessed but uncollected income tax and VAT as of December 31, 2024, were not recognised, contrary to IPSAS 23. The Auditor-General called for better coordination between the CAGD, Ghana Revenue Authority, and Ministry of Finance to align revenue recognition with the accrual basis.

  • Asset management weaknesses: The CAGD failed to conduct impairment tests on non-financial assets as required by IPSAS 21 and 26. The report recommended a formal system for regular asset assessments.

  • Inter-Company inconsistencies: Balances in Inter-Company Accounts rose from GH¢7.99 billion to GH¢8.55 billion within the year, instead of netting to zero after consolidation. The Auditor-General demanded an immediate investigation and correction.

  • Incomplete GIFMIS integration: Some covered entities did not fully process transactions through the Ghana Integrated Financial Management Information System. The report called for strict enforcement of the PFM Act, backed by training, system upgrades, and sanctions for persistent breaches.

  • Poor disclosures on public investments: Disinvestments of GH¢10.30 billion and new investments worth GH¢19.25 billion were not accompanied by adequate notes or explanations, limiting public insight into the rationale, implications, and expected returns.

The Auditor-General stressed that these shortcomings undermine the credibility of government financial reporting. He urged urgent corrective measures to strengthen fiscal discipline, ensure accuracy, and rebuild public trust in the management of national resources.