Question

Public financial management is critical for successful delivery of public services. The prime objective of public financial management is to ensure that public resources allocated to projects and programmes through covered entities are applied economically, efficiently and effectively to enhance value for money in public spending. Contrary to expectation, public financial management in Ghana is bedevilled with gross infractions, irregularities and malpractices which deny the citizens the quality of public service delivery they deserve. The current Auditor General’s Report on Public Accounts of the central government agencies, the local governments and educational institutions reveal that several millions of Ghana Cedis is lost to financial impropriety and malpractices. This has been on the increase over the years. surely, these occurrences should attract policy attention.
Ghana Moni is a Civil Society Organisation with the prime aim of demanding and promoting accountability in Ghana. Ghana Moni is organising an essay writing competition for Final Year Accountancy Students in all Universities in Ghana on the topic: Accounting for Financial Impropriety in Public Financial Management in Ghana. The aim of the competition is to gather fresh and further evidence on the causes and practical remedies of the persistent misuse of public resources. The award for winners is GHS100,000.00. The deadline for submission is 48 hours from now.
Required:
Make your entry into the competition in strict compliance with these requirements:
i) Abstract (Not exceeding 100 words)
ii) Introduction (Not exceeding 200 words)
iii) Taxonomy of financial impropriety3 (Not exceeding 300 words)
iv) Causes of financial impropriety in the public sector (Not exceeding 600 words)
v) Practical remedies of financial impropriety (Not exceeding 600 words)
vi) Conclusion (Not exceeding 100 words)

Answer 1