5.2.2
Enforce
Use
of
International
Standards
in
Financial
Reporting
The
transition
from
the
Ghana
Accounting
Standards
to
the
IFRS
has
introduced
greater
responsibilities
as
well
as
human
resource
and
financial
burdens
on
these
companies
due
to
the
complex
nature
of
the
IFRS.
Enforcement
will
pose
a
challenge.
According
to
the
MoFEP,
the
adoption
and
use
of
IFRS
by
Small
and
Medium
Enterprises
(SMEs)
in
Ghana
is
not
feasible
as
the
budget
of
these
SMEs
cannot
accommodate
the
cost
associated
with
IFRS
adoption
and
use.
As
an
alternative,
SMEs
in
Ghana
are
advised
to
use
IFRS
for
Small
Scale
Enterprises.
This
is
a
simplified
version
of
international
accounting
standards.
5.3
Labour
Laws
5.3.1
Ratify
ILO
Convention
No.
184
The
ILO
Convention
No.
184
has
not
been
ratified.
The
convention
deals
with
health
and
safety
in
the
agriculture
sector.
5.3.2
Prepare
National
Policy
on
Agricultural
Health
and
Safety
The
Ministry
of
Food
and
Agriculture
(MOFA)
notes
that
although
the
country
does
not
have
a
national
policy
on
agriculture
health
and
safety,
the
various
departments
within
the
Ministry
incorporate
good
safety
and
health
practices
in
their
policies.
A
committee
is
however
to
be
formed
to
prepare
a
national
policy
on
agriculture
safety
and
health.
The
General
Agriculture
Workers
Union
(GAWU)
believes
that
the
non
ratification
of
Convention
184
which
deals
with
safety
in
agriculture
is
a
horror
as
some
farmers
are
using
agro-‐chemicals
indiscriminately
causing
environmental
damage
and
endangering
their
own
lives.
5.3.3
Strengthen
the
Labour
Department
The
Labour
Department
argue
for
an
increase
in
staff
strength,
adequate
financial
resources
and
to
be
electronically
linked
to
other
agencies
in
order
to
enable
the
department
carry
out
89