QUESTION ONE The Public Expenditure and Financial Accountability (PEFA) program was initiated in 2001 by seven international development partners: The European Commission, International Monetary Fund, World Bank, and the governments of France, Norway, Switzerland, and the United Kingdom. PEFA began as a means to harmonise assessment of PFM across the partner organisations. It subsequently established a standard methodology for PFM diagnostic assessments, the PEFA framework. Since 2001, PEFA has become the acknowledged standard for PFM assessments Required: Describe the scope and goals of PEFA framework.

A public sector entity is transitioning from cash basis of accounting to accrual basis of accounting for the 2022 financial year. You are a member of the transitional committee set up to ensure smooth change over. Required: Discuss FIVE (5) conditions for seamless transition from cash basis of accounting to accrual basis of accounting.

The Parliament of Ghana has failed in its financial duty to control Government expenditure. Required: State five (5) reasons that account for the failure of Parliament to control government expenditure.