Submit Audited Accounts or Lose Your Job — Mahama Warns SOE CEOs
President makes audited accounts and annual reports mandatory performance targets for state enterprise leaders.
- Mahama warns SOE CEOs to submit audited accounts or risk dismissal
- SIGA has set a compliance deadline for all state enterprises
- Some SOEs reportedly failed to submit accounts for seven years.
President John Dramani Mahama has issued a strong warning to Chief Executive Officers of state-owned enterprises (SOEs), stating that failure to submit audited accounts and annual reports by the deadline set by the State Interests and Governance Authority (SIGA) could result in their dismissal.
Speaking at a diaspora town hall meeting on Sunday, May 31, the President said the government is intensifying efforts to improve accountability, transparency and efficiency within state-owned enterprises as part of broader economic reform measures.
Mr. Mahama expressed concern that some state institutions had operated for several years without producing audited financial statements or annual reports, describing the situation as unacceptable and harmful to effective governance.
According to him, the poor management of state-owned enterprises often results in significant financial losses, which eventually become a burden on the state and taxpayers.
The President revealed that the submission of audited accounts and annual reports has now been incorporated into the key performance indicators (KPIs) for CEOs of state enterprises, making compliance a critical requirement for retaining their positions.
“We found out that some state-owned enterprises had not presented annual reports or audited accounts for seven years. I mean, who runs an organisation like that for seven years without audited accounts and annual reports?” he questioned.
“So we have made the submission of audited accounts and annual reports part of their key performance indicators. I’ve told the CEOs that SIGA has set a deadline, I think by the middle of this year. If you have not presented your audited accounts and you have not presented your annual report, the road is your face, you go home,” he stated.
Despite the concerns, President Mahama said several state-owned enterprises are beginning to show signs of improvement following increased oversight and reforms introduced by the government, expressing optimism about their future performance.
