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- 5 Marks
Question
Parliament of the Republic of Ghana performs several functions such as the enactment of laws, securitization of law, approval of the national budget, among others. However, in reference to section 11(1) of the Public Financial Management Act 2016 (Act 921), Parliament shall also provide oversight responsibilities in several areas. In achieving this, the Speaker of Parliament may assign responsibilities under this to a committee of Parliament or an Office established by Parliament.
Required:
State and explain FIVE (5) areas you expect Parliament of the 4th Republic to provide these oversight responsibilities.
(5 marks)
Answer
Areas of Parliamentary Oversight Responsibilities under the Public Financial Management Act 2016 (Act 921)
- Matters relating to budget and finance
Parliament is responsible for overseeing the preparation, approval, and monitoring of the national budget, ensuring that public funds are allocated and used in accordance with national priorities. - Government expenditure
Parliament monitors government spending to ensure that expenditures are made in accordance with the approved budget and that funds are used effectively and efficiently for their intended purposes. - Performance reporting
Parliament reviews performance reports from government entities to assess whether they are achieving their objectives and delivering public services effectively. - Post-legislative scrutiny
Parliament ensures that laws passed are implemented effectively and that their intended outcomes are being achieved, taking corrective actions where necessary. - Impact of financial policy measures on the economy
Parliament evaluates the impact of financial policies on the overall economy, ensuring that such policies contribute to economic growth, stability, and the welfare of the citizens.
- Topic: The context of public financial management
- Series: MAY 2020
- Uploader: Theophilus