Ghana

Dr. Pikay Richardson, from Manchester Business School leads training of journalists

Student journalists in Ghana have been trained in financial journalism to help to intervene and correct many of the wrongs happening in our corporate governance process for policy direction.

The training which ended on Monday was organized by the Private Enterprise Foundation (PEF), with facilitation from Lawfields Consult pulled together about 40 participants from the local media landscape, government counterparts as well as free lance journalists in Ghana. The training was seen as timely, especially because of the recent appointment of government boards for its various MMDAs. Recognition was given to the Government of Japan and UNDP for supporting the event through the Japan-UNDP Partnership Fund.

The three-day interactive seminar started with an introduction to corporate governance; corporate governance in Ghana; setting the scene ; key concepts; and bank corporate governance. Participants appreciated information learnt from good corporate governance using both local and international case studies and the role of boards in corporate governance.

On the second day, the training discussed further into Corporate Governance in Ghana giving emphasis to the Companies Code 1963; Securities and Exchange Commission (SEC) ; Ghana Stock Exchange Listing Regulations etc. The training took participants through braining storming sessions through the Ghana’s Business Code 2006 linking it to the UN’s Global Compact which is presently housed in UNDP Ghana. Participants were taken through the rights, responsibilities and challenges of financial journalists. Participants shared information and experience with other counterparts on their views about corporate commitment for both the institutional and national corporate governance agenda.

On the final day, the training discussed the financial reporting and the role and duties of external auditors. Participants were taken through introduction to financial statement analysis, accounting fraud, corporate fraud, overstating revenues and expenses, improper assets evaluation and recent accounting scandals. Participants appreciated sessions through the Financial Administration Act 2003, Internal Audit Agency Act 2003, Public Procurement Act 2003, and Whistle Blowers Act 2006.

On the last day, to provide a larger learning and knowledge platform, participants were given an opportunity to meet with Ghana's ace investigative journalist Anas Aremeyaw Anas.  He shared his experience on his award given by the Ghana Journalists Association for his investigation into the Euro Foods Company on disguise as a cleaner in the firm whose duty was to help mix maggot infested flour for the baking of biscuits for sale to the public. He again shared his experience on other investigations he has worked on and others that are in the making.