The Ghana Football Association has dismissed reports that an audit report has found the sport body liable of mismanaging funds.

Reports in the media had claimed an audit report had concluded that the sport body's financial situation was in dire trouble over the expenditure of $6.6m over a certain period of time saying some disbursements were not acknowledged by FA accounts.

However, the FA President Kwesi Nyantakyi has rubbished suggestions of "lapses in internal controls over cash management, improper management of assets, unaccounted impress, payments without receipts, among other things" as reported by the media.

According to Kwesi Nyantakyi, the financial report has not indicted any official of the GFA and explains the queries raised have been responded to.

"The report does not indict anybody for fraud. These are procedural errors for accounting. When you take money from the Association as impress, you are given a certain number of days to retire the impress after the event has occurred. And if you don't, that money is maybe debited to you as personal debt that you owe the Association.

"It does not under any circumstances impute corruption or fraud because first of all, there is approval for it and everybody knew that you were given the money to undertake a stated approved business of the Association and secondly you are suppose to retire the impress at a certain time failing which you may incur some financial liabilities for that but it does not in any way suggest corruption or fraud," the FA President explained.