Joseph Cudjoe: SIGA’s State Ownership Report cannot be fully relied on without audited accounts
Former Ghanaian Minister Joseph Cudjoe has warned that the 2025 State Ownership Report lacks credibility if it relies on unaudited financial statements. He urged the public to scrutinize individual enterprise accounts rather than accepting the report's headline profit figures.
Why it matters
Transparency in state-owned enterprises is critical for economic accountability and investor confidence in Ghana's public sector.
Former Minister for State Enterprises Joseph Cudjoe has cautioned against relying on Ghana’s 2025 State Ownership Report to assess the performance of state-owned enterprises without first determining how many of the institutions have audited financial statements.
According to him, the credibility of the report’s headline figures depends largely on whether the underlying accounts of the institutions covered have been independently audited.
Cudjoe said while audited accounts could provide a reliable basis for assessing the financial performance of state-owned enterprises, figures based on unaudited management accounts should be treated with caution.
“The first thing to look at is how many audited financial statements are in there,” he said on the Asaase Breakfast Show on Tuesday (1 September).
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