Chief Executive Officer of the Ghana Cylinder Manufacturing Company (GCMC) limited, Frances Asiam has stated that the company has complied with all recommendations given by the Auditor General with regards infractions.
The Auditor General has accordingly confirmed that no further action is required against the company regarding the infractions captured in its report since it has all been addressed.
The 2018 Auditor General’s report on public accounts of Ghana: public boards, corporations and other statutory institutions for the period ended 31, December, 2018 raised several infractions against the Ghana Cylinder Manufacturing firm for three financial years ended 31 December, 2027.
Ms Frances Asiam said this when she appeared before the Public Accounts Committee of Parliament to respond to the Auditor Generals report.
According to her many factors accounted to those infractions and assured of her commitment to ensure those shortfalls do not recure in future reports of the Auditor General.
The committee has however instructed the company to remit a total of GHS111,651.28 to the Ghana Revenue Authority (GRA) within the next 14 days being a withholding tax which was withheld on goods and services procured from 2014 to 2017 financial years among other infractions .
The said amount was discovered by the Auditor Generals Department(AGD) as an infractions through the non-payment of remittances by the company to the Ghana Revenue Authority (GRA).
Other infractions cited by the Auditor General’s report against the company include the payment of a total amount of Ghc 52, 400.00 unapproved allowances to the Board of Directors, purchases of Ghc 357, 747.26 not accounted for, failure to withhold taxes on Board members allowances Ghc 4,400.00, unaccounted impress of Ghc 10,000.00, unplanned procurement and non-existence of procurement unit, inappropriate method of procurement among others.
The Ghana Cylinder Manufacturing Company CEO also hinted of her commitment to expand the company and augment the manufacturing of cylinders locally.
