Abena Osei-Asare is the Public Accounts Committee (PAC) Chairman
The Chairperson of the Public Accounts Committee (PAC), Abena Osei Asare, has condemned the Auditor-General’s (AG) report revealing a GH¢138.91 billion overstatement in Ghana’s public debt for 2024, terming it as ‘no ordinary mistake’.
Osei-Asare stressed the gravity of this discrepancy, attributing it to poor coordination among key institutions within the public financial management framework.
In a Facebook post on Wednesday, July 23, 2025, she stated, “A misstatement of this magnitude therefore raises important questions about internal controls, data harmonisation, and institutional coordination within our public financial management framework.”
The Auditor-General’s report highlighted an important divergence in Ghana’s public debt figures.
While the Controller and Accountant-General’s Department (CAGD) reported a total of GH¢876.01 billion, the Ministry of Finance, which is responsible for public borrowing, recorded a considerably lower figure of GH¢737.17 billion.
Further audit findings detailed discrepancies across various categories, including domestic debt, external debt, and COCOBOD’s accounts.
Notably, COCOBOD’s domestic debt was overstated by GH¢4.15 billion, while its external debt was understated by GH¢2.1 million.
The Auditor-General has recommended enhanced collaboration among public financial institutions, specifically citing the Ministry of Finance, the Controller and Accountant-General’s Department, and other relevant agencies.
This is aimed at preventing future misstatements and ensuring accurate reporting of government finances.
Responding to these recommendations, Osei-Asare assured the public that the PAC would take the matter seriously.
Her committee plans to probe and scrutinise the processes that led to the misstatement of figures and ensure the Auditor-General’s recommendations are fully implemented.
“As Chair of the Public Accounts Committee, I wish to assure the public that the Committee will take these matters seriously,” she stated.
“The PAC will engage with the relevant institutions to understand the root causes of the misstatement; scrutinize the processes that allowed such a divergence in figures; and ensure that the Audit Service’s recommendations are not only acknowledged but implemented,” she added.
She stressed that these measures are crucial for safeguarding the integrity of public financial systems and rebuilding public confidence in the institutions managing the nation’s resources.
“This is about protecting the integrity of our public financial systems and rebuilding public confidence in the institutions that manage our resources,” she stated.
Read her post below:
MAG/VPO
Meanwhile, watch what Jane Reindorf Osei says about Ghana’s readiness for tourism investment: