Lawyer and partner at Deloitte, Yaw Appiah Lartey, warned state‑owned enterprises (SOEs) that submitting audited financial statements is only the first step in meeting corporate governance requirements. Speaking on JoyNews’ Newsfile on Saturday, September 5, he highlighted that the number of entities filing audited accounts rose from 53 in the previous reporting period to 108 in the latest report, a figure he praised as a sign of progress.
However, Lartey stressed that filing alone does not fulfil governance obligations. "If you just submit your financial statement without having a general meeting or annual general meeting, that does not meet the overall corporate governance requirements," he said. He called on the State Interests and Governance Authority (SIGA) and SOEs to ensure accounts are properly scrutinised and approved through the appropriate corporate structures.
Lartey also urged SIGA to differentiate between commercially oriented organisations and institutions that primarily provide public services, arguing that each category requires distinct performance measures. His remarks come amid ongoing discussions over SIGA’s latest State Ownership Report and broader efforts to enhance transparency and accountability in Ghana’s state‑owned entities.
Moving forward, Lartey expects SOEs to not only meet reporting deadlines but also to conduct annual general meetings that genuinely review and approve audited accounts, thereby strengthening corporate governance across the sector.
