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Business News of Tuesday, 22 August 2017

Source: Starrfmonline.com

GHC3bn lost over financial irregularities

At least Gh¢3,311,963,314 of tax payers’ money have been lost in the public sector due to financial irregularities.

The irregularities which occurred at the sector ministries and their respective public board and corporation and statutory institutions took place in seven forms – outstanding debtors/loans recoverable charges, cash irregularities, payroll irregularities, procurement irregularities, tax irregularities, stores and contract irregularities.

Outstanding loans topped the league of irregularities which were recorded in 2015.

Below is a breakdown of the amount recorded in the 2015 Auditor General’s report: