Wednesday, November 30

AG to audit all state owned enterprises

Pinterest LinkedIn Tumblr +

Alagie Mbowe, the National Assembly Member (NAM) for Upper Saloum and also vice chairman for Finance and Public Accounts Committee (FPAC) of the National Assembly, has disclosed the Auditor General (AG) considers initiating special audit for all state owned enterprises in line with Section 160(8) of the Constitution by the end of the financial year, 2022.

Hon. Mbowe, while tabling the FPAC recommendation before the his fellow lawmakers at the parliament recently, states: “That all unreconciled government transactions indicated in the audited accounts be reconciled by the Accountant General before the end of the financial year, 2022 and a report be sent to the FPAC,” he said.

According to him, the government, through the Ministry of Finance and Economic Affairs, endeavours to table before the Assembly a revised Public Finance Bill and a revision of the Financial Regulations 2016 before the end of the financial year, 2022.

He mentioned that the Auditor General consider invoking his power under Section 160(5) of the Constitution where discrepancies of a criminal or fraudulent nature are discovered during an audit.

He added that the Auditor General considers including its report to the National Assembly all cases of criminal or fraudulent nature reported to the Inspector General of Police.

Upper Saloum lawmaker has indicated that the Auditor General and the Accountant General provide to the National Assembly a list of all people that have been found to commit fraudulent activities in all sectors and give the latest update on their prosecution or repayments.

Hon. Mbowe said the Accountant General resolve all prior year closing balances and current year opening balances of the Government with respect to Loans and Grants be consolidated before the end of this financial year.

He noted that the Ministry of Finance and Economic Affairs must be part of any grant negotiations and be the recipient of all grants for and on behalf of the government.

However, all government projects shall use the IFMIS system for all the accounting processes by the end of this final year, 2022;

He emphased that any existing revenue collection by third parties shall be handed over to the Accountant General within 90 days.

Share.