Ghanaian state enterprises urged to hold annual general meetings
In Ghana, Deloitte partner Yaw Appiah Lartey said that it is not enough for state-owned enterprises to merely submit audited financial statements. According to him, the documents must undergo proper corporate governance procedures, including consideration at annual general meetings. He said this on the Newsfile programme, MyJoyOnline reports.
Number of submitted reports increased
According to Lartey, the number of state entities that submitted audited financial statements increased from 53 in the previous reporting period to 108 in the latest report. He called this a positive sign of progress in the corporate governance system.
The Deloitte representative also noted the work of the Ghanaian government and the State Interests and Governance Authority (SIGA). At the same time, he stressed that submitting audited statements is only one component of proper corporate governance.
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Corporate procedures
Lartey noted that submitting financial documents alone, without holding general or annual general meetings, does not meet the overall corporate governance requirements. He urged SIGA and state-owned enterprises to consider not only the deadlines for submitting documents, but also their proper review and approval through relevant corporate mechanisms.
In addition, the Deloitte partner believes that assessments of state entities should distinguish between commercially oriented organisations and institutions established primarily to provide public services. In his view, these categories require different criteria for evaluating performance.
