Akufo-Addo orders SOEs to submit their 2023 audited financial statements by May 2024
President Nana Addo Dankwa Akufo-Addo has mandated all state-owned enterprises (SOEs) to submit their 2023 audited financial statements by May 2024, warning of sanctions for non-compliance.
This directive was issued during the 2024 annual policy and governance forum for SOEs, highlighting the president’s commitment to ensuring adherence.
Aiming to review SOEs’ performance, the forum underscores their role in supporting government mandates.
At the event, President Akufo-Addo stressed the importance of meeting the May 15 deadline, citing potential repercussions on financing arrangements with the World Bank.
He emphasized the need to address delays in financial reporting, mandated by the Public Finance Management Act, to enhance the performance of SOEs.
The Acting Director-General of the State Interests and Governance Authority (SIGA), John Boadu, expressed confidence in the new policy’s ability to bolster corporate governance and reduce government dependence.
SIGA will monitor compliance closely and take action against entities failing to meet the deadline.
