Ghana embarked, in the late eighties and early nineties on an agitation for Good
Governance. We demanded: Human Rights, Media Freedom, Law and Order, Personal
Liberties and Parliamentary Democracy. These were the governance challenges at the time. Currently, virtually all of these demands were achieved. Democracy is well planted. Consequently, there has been a paradigm shift Ghana’s governance challenges, which includes ensuring financial accountability in the public sector. In broad terms, this paper discusses the role of Parliament as the key accountability institution in the fight against Corruption. It also examines the relevance of the Public Financial Management (PFM) system in the fight against corruption, and reveals that
key accountability mechanisms are not allowed to operate in the budget cycle; and the specific oversight roles of parliament have not been performed effectively. The paper concludes with some solutions to the anomalies.