After more than a year of independent review, international audit firm Deloitte has verified that the National Cathedral of Ghana (NCG) maintained accurate and up-to-date financial records of all receipts and expenditures for the year ending December 31, 2020.
In a letter addressed to church leaders and signed by Apostle Professor Opoku Onyinah, chairman of the NCG Board, it was announced that the NCG held a meeting on Friday, September 20, 2024.
During this meeting, Deloitte presented the statutory audit report covering the project’s financials from its inception up to December 31, 2020.
“This forms the first report of an ongoing statutory audit by Deloitte Ghana initiated by the Board. The audit for the year ended, 31 December 2021 is also in progress, while the remaining audits comprising the years ended, 31 December 2022 and 2023 are planned for completion latest by the end of the year.
“The Board has been concerned by the length of time it has taken to complete the audit, which formally started in July 2023. However, upon receipt of the first report, we appreciate the meticulous audit processes adopted by Deloitte, including the thorough circularisation procedures that involved all parties related to monies received and expenditures on the project”.
Apostle Professor Opoku Onyinah
Apostle Professor Opoku Onyinah emphasized the significance of the audit report, noting that it has provided assurance in several important areas.
He indicated that the auditors thoroughly reviewed and confirmed all financial transactions related to the National Cathedral project from its inception.
This includes verifying all receipts and expenditures made by every party involved, including the state, ensuring full accountability of the project’s finances.
Apostle Onyinah further noted that the report highlighted that Deloitte independently verified the donations received by the NCG from individuals and organizations across the country.
This step was critical in ensuring transparency regarding the sources and amounts of contributions received for the project.
According to him, the auditors also carried out detailed confirmations with all the financial institutions associated with the project.
This process ensured that all banking transactions, transfers, and funds management were accurately recorded and reflected in the financial statements, further reinforcing the integrity of the project’s financial operations.
Auditors Confirm No Adverse Findings During Presentation
Furthermore, Apostle Professor Opoku Onyinah’s letter highlighted that during the presentation and the subsequent Questions and Answers session, the auditors were unequivocal in stating that there were no adverse findings.
The auditors, according to him, confirmed that “proper books of accounts have been kept, and the information and explanations provided are in compliance with the requirements of the Companies Act, 2019 (Act 922)“.
This assurance reinforces the project’s adherence to statutory financial regulations and best practices in accounting.
“The need for an audit was a key demand by the church leadership in the nation and Ghanaians in general to establish the credibility of the implementation of the project…with the completion of this first report, the National Cathedral of Ghana will commence preparations for the construction of the project to resume…”.
Apostle Professor Opoku Onyinah
Apostle Onyinah expressed the National Cathedral of Ghana’s deep gratitude for the public’s continued support, both in prayer and financial contributions.
He affirmed his confidence that the completion of the ongoing audit will further strengthen public trust in the project and inspire renewed commitment from the public, encouraging even greater support as the Cathedral moves closer to completion.
Apostle Onyinah expressed the NCG’s gratitude to the church leaders who facilitated the meeting.
He specifically acknowledged Most Rev Dr. Paul Boafo, Presiding Bishop of the Methodist Church of Ghana; Rev Dr. Cyril Fayose, General Secretary of the Christian Council of Ghana; and Very Rev Fr. Clement Kwasi Adjei, Secretary General of the Ghana Catholic Bishops’ Conference (GCBC).
READ ALSO: MTN Ghana Sees 0.45% Decline Amid Strong Year-to-Date Gains on GSE
