The State Interests and Governance Authority (SIGA) says April 30 is the final deadline for the submission of audited financial statements by State-Owned Enterprises (SOEs) and other specified entities.

Professor Michael Kpessa-Whyte, Director-General of SIGA, said that President expected strict compliance to the directive and that failure to meet reporting obligations would not be tolerated.

He disclosed this during the 2026 Stakeholders’ Conference and Performance Review Meeting in Accra, where he underscored the Authority’s renewed commitment to enforcing financial discipline, transparency and governance compliance across its portfolio.

He stated that SIGA had already completed the 2024 State Ownership Reports and Governance and Institutional Performance Assessment documents.

The DG noted that these reports provided a clear reflection of financial performance, governance standards and value-for-money outcomes within the sector.

The Director-General explained that the 2025 ownership reports, currently being prepared, will offer the first true assessment of the performance of entities under the current administration.

For this reason, he urged all institutions yet to submit their unaudited and audited accounts to do so without delay.

Professor Kpessa-Whyte emphasised that adherence to financial reporting standards was not optional, citing the SIGA Act and the Public Financial Management Regulations as legal bases compelling entities to submit their accounts on schedule.

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He noted improvement in recent years, with more entities submitting unaudited accounts and expanded oversight coverage rising from 147 to 152 entities.

Despite these gains, he said, financial reporting gaps still weakened oversight and hindered the government’s ability to assess risks and make informed policy decisions.

The Director-General encouraged boards and chief executives to prioritise governance, describing good corporate governance as fundamental to safeguarding public funds and assets.

He urged board committees, particularly audit and risk committees, to remain active and effective, stressing that weak internal controls exposed institutions to losses and operational failures.

Professor Kpessa-Whyte welcomed increasing participation in performance contract signing but stated that universality remained the target.

He underscored that performance contracts were essential instruments for ensuring accountability and aligning institutional actions with national priorities.

He called on SOEs to maintain discipline in procurement, avoid waste and focus on efficiency.

He added that profitable entities must work towards paying dividends to the state, which ultimately benefits citizens as shareholders.