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