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BusinessDr Bawumia urges protection of Financial Data against cyber attacks


Dr Bawumia urges protection of Financial Data against cyber attacks

Vice President Dr Mahamudu Bawumia has underscored the importance of integrating cybersecurity measures within the Controller and Accountant General Department (CAGD). 

The Vice President emphasized the need for heightened vigilance against cyber threats to maintain the trust of clients and stakeholders.

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Speaking at the opening ceremony of the 2024 annual conference of the CAGD, Dr Bawumia, represented by the Ashanti Regional Minister, Simon Osei Mensah, highlighted cybersecurity as a critical area requiring special attention amidst increasing digitalization. 

He emphasized the necessity for accountants to adapt to evolving technologies and regulations through continuous professional development to effectively combat cyber threats.

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Under the theme, ‘Enhancing Economic Growth Through Innovation and Adaptation,’ the two-day conference convened approximately 700 delegates, including heads of accounts from various government bodies and agencies. Discussions centered on the pivotal role of public sector accountants in revenue generation and expenditure control to foster economic growth.

The opening ceremony coincided with the inauguration of six brand new 4×4 vehicles for regional offices, while the closing ceremony witnessed the unveiling of International Public Sector Accounting Standards (IPSAS) manuals, underscoring the department’s commitment to transparency and accountability in financial management.

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Controller and Accountant General, Mr Kwasi Kwaning-Bosompem, highlighted the department’s achievements, including the implementation of the e-travel card portal and the Ghana Integrated Financial Management System (GIFMIS) to streamline budget preparation and management processes.

Additionally, Mr. Kwaning-Bosompem emphasized the significance of innovation in driving progress, stressing the department’s commitment to seeking new and creative ways to improve systems and services.

The launch of the IPSAS manuals was hailed as a milestone, with Mr. Kwaning-Bosompem affirming their importance in enhancing public financial management. He expressed confidence that the manuals would elevate internal processes and contribute significantly to overall economic development by fostering transparency and accountability.

As discussions at the conference continue to underscore the importance of cybersecurity and innovation in financial management, stakeholders remain focused on fostering a culture of excellence and efficiency within public financial operations.

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