Assessment of financial control practices in Senior High Schools in Ho-West District in Volta Region of Ghana

Abstract

Public Sector Organizations are not countries but they have a sort of constitutions in the form of internal regulations and controls to adhere to in order to ensure judicious use of their resources towards sustainable growth and development. Unfortunately, the big investments countries are making to achieve their policy objectives are totally derailed or only partially achieved due to disobedience to the financial rules and laws. Financial controls use by the heads of these institutions such as the use of financial statements, budget, policies and procedures and other financial tools are not eliciting the desired results in the face of massive financial irregularities. The work of the Public Management Committee on regulatory reform - built over the years has provided huge input and other extensive support to the development of organization, and provide policy direction of the regulatory reform programmes in OECD Member countries. Though with some impact, the disobedience of these array of regulations is very pervasive with it financial repercussions. It is specifically, this disobedience and why this research seeks to find out. Two sets of questionnaires were designed to the Bursars and the Accountants and the Headmasters and the Assistants. Interviews are also employed. The study found out that the disobedience of financial rules and laws in the public sector institutions in Ghana is pervasive and the financial lost to the nation is massive. The paper however recommends that, paper qualification alone should not be a guide in selecting managers of the public sector institutions, but further and better fundamental analysis ought to be done to select those that have academical and professional inclination coupled with high moral integrity.