By Elizabeth Larkwor Baah
Tema, Nov. 10, GNA – Clear institutional boundaries and effective coordination with existing public accountability bodies will be critical to the effectiveness of Ghana’s Value for Money Office (VfMO), Dr Daniel Osabutey, a Senior Lecturer at the Accra Technical School of Business, has said.
Dr Osabutey, who is also a financial expert said although the establishment of the office presented an opportunity to strengthen public expenditure management, its mandate must complement rather than duplicate the responsibilities of institutions responsible for procurement regulation, independent auditing and parliamentary oversight.
He stated that the VfMO should not be regarded as a substitute for existing accountability mechanisms but as an institution that reinforced them by ensuring that public resources were allocated and utilised efficiently and delivered measurable results.
He said one of the office’s key responsibilities was to assess the cost and feasibility of public projects before contracts were awarded, helping to identify potential waste, inflated contract prices and poorly planned investments.
He said the Office’s involvement in examining project costs and procurement decisions should reinforce established accountability arrangements rather than create competing institutional responsibilities.
Dr Osabutey added that the VfMO is also mandated to review and certify public projects, with a Value for Money Certificate required at specified stages, including before contract awards and payments, as well as decisions on whether projects should continue.
The office is expected to monitor project implementation to identify challenges that could affect costs, delivery and the efficient use of public funds, and evaluate completed projects to determine whether they have achieved their intended results.
Dr Osabutey said these responsibilities required clearly defined working relationships with existing oversight institutions to prevent duplication and ensure that the VfMO’s activities strengthened the broader public financial management system.
He said the proposed public transparency portal, through which project certifications, cost benchmarks, savings and performance reports would be published, could also improve public access to information and strengthen scrutiny of government expenditure.
Dr Osabutey added that the VfMO represented an opportunity to improve public expenditure discipline, but its success would depend partly on how its mandate was integrated into Ghana’s existing accountability framework.
He said strengthening public financial management required more than establishing another oversight institution, adding that effective coordination among accountability bodies was necessary to ensure that public resources were properly allocated, utilised and accounted for.
GNA
Edited by Laudia Anyorkor Nunoo/Kenneth Odeng Adade
Reporter: Elizabeth Larkwor Baah, GNA
Email: [email protected]