It is responsible for financial management policy, resource mobilization, disbursement, financial accounting and reporting. It is also responsible for managing the finances of the Authority.
Objectives
- To safeguard the interest of the Ghana Standards Authority in all financial transactions relating to revenue and expenditure.
- To mobilize and disburse financial resources and provide/generate reports for management control.
- Facilitates the implementation of efficient financial management systems.
It consists of the following units:
- Accounts
- Financial Analysis and Reporting
- Financial Management Services
- Staff Salary
- Stores
- Accounts Receivables
- Treasury
RESPONSIBILITIES
Accounts
- Processes Ghana Standards Authority transactions for Government of Ghana subventions, Compensation of Employees Goods and Services, Capex.
- Prepares financial and management reports for Ghana Standards Authority’s operations.
- Assist Regulatory & Statutory Agencies of GSA with their Financial Management responsibilities.
Provision of Financial Information
- Prepares Financial and other statements of accounts for external purpose.
- Maintains Financial Information for management use for control purposes.
- Advice and support management in meeting their regulatory obligations in respect of financial accountability.
- Leads in the development and implementation of accounting systems.
- Advises on information systems to meet the financial requirements of the Authority.
Business Analysis and Measurement
- Assists in the planning and monitoring of GSA performance.
- Advises management for the control of expenditure and monitors the budgets.
Statutory Audit
- Prepares for and control the statutory audit process.
- Develops plans for monitoring and implementation of Audit findings.
Asset Management
- Promotes growth in the financial and physical asset.
- Monitors and maintain the cash flow requirement.
- Advises and assists in controlling and investigating risks associated with fraud.
- Ensures judicious use of funds.
Management Operation
- Establishes and maintains safe, secure and healthy working environments.
- Develops and maintain effective and ethical relationships amongst all finance staff.
- Assists the HRD to ensure adequate Accounts staff, establishment for all divisions of the Authority.
- Prioritizes on-going personnel and professional development of finance staff.
Cost and Budget
- Review of fees and charges of services.
- Collation of data from various departments for the preparation of the budget
- Liaise with Planning Department to prepare annual budget
- Monitor Actual Revenue/Expenditure against Budgeted Revenue/Expenditure and report on variances.
Staff Salary
- Prepare monthly salary inputs based on information received from Human Resource Department and process monthly salaries for payment
- Liaise with CAGD to ensure that letters concerning staff salaries are processed.
Stores
- Receiving of all goods purchased into respective stores.
- Issue of goods in store to all departments upon request
- Update of tally cards
- Carry out stock valuation twice in the year
- Capturing of all stock transactions into the Stores Ledger
Accounts Receivables
- Monitoring of all credit invoices in order to ensure prompt payment by clients.
- Reconciliation with clients on payments made
- Updating of Client database