Question

Discuss the role of warrants in ensuring financial accountability in the public sector of Ghana

Answer 1

Warrants are  issued for a specific item or project and it can not be for different expediture item without any prior approval used for items provided for in the approved budget. General Warrants are issued to MDAs(Ministries, Departments And Agencies) & MMDAs (Metropolitan ,Municipal And District Assemblies) to meet their operational expenses by the Minister of Finance for payments to be made in the first quarter of a year when budgets are not approved before the begining of that year. It is based on provisional estimate.

Warrants are of three types

1.specific

2. General

3. Provisional

Role of warrants:

The assessment was financed and contractually administered by SECO. The assessment was
managed by the PEFA Steering Committee. During the field mission the team met on a weekly
basis with the PEFA Steering Committee to discuss the progress and outstanding issues. The
Steering Committee was composed of MOFEP officials representing the Government of Ghana and
representatives of the following DPs: Swiss State Secretariat for Economic Affairs (SECO), Danish
International Development Agency (DANIDA), Deutsche Gesellschaft für Internationale
Zusammenarbeit (GIZ), African Development Bank (AfDB). The European Union (EU), World Bank
(WB) and International Monetary Fund (IMF) provided comments to the draft report.

Warrants are more important as the Life is going more complicated day by day. And it's provide many realible advantages.