The Authorities of Liberia by means of the Comptroller and Accountant Basic’s (CAG) Workplace, on the Ministry of Finance & Improvement Planning, will on Wednesday, October 21, 2020, launch the institution of the Comptroller & Accountant Basic’s Division of the Ministry of Finance & Improvement Planning.
With the passage of the Modification and Restatement of the Public Monetary Administration (PFM) Act of 2009, the CAG Division transitioned from a Division beneath the Division of Fiscal Affairs to a brand new Division of its personal throughout the Ministry of Finance & Improvement Planning.
Part I of the Amended and Restated PFM Act of 2009, permitted by the Nationwide Legislature on October 22, 2019, states “the Comptroller and Accountant Basic Workplace throughout the Division of Fiscal Affairs on the Ministry of Finance and Improvement Planning was given the complete authority by means of the Nationwide Legislature, and with the consent of the Minister of Finance and Improvement Planning to be a full division”.
The part furthered that “the Modification and Restatement PFM Act of 2009 shall govern all issues associated to the administration of the Public Finance of the Republic of Liberia. This act lays out the elemental procedures for the preparations, adoptions, executions and last accounts of the Nationwide Finances and associated issues together with inside management, accounting, and auditing of public monetary belongings, in addition to the association for public debt and authorities ensures”.
Liberia’s Comptroller & Accountant Basic, Atty. Janga A. Kowo thanked the Nationwide Legislature and the whole management of the Ministry of Finance & Improvement Planning for passing the proposed amendments to the Public Monetary Administration Act of 2009, which amongst others requires the institution of a Comptroller & Accountant Basic’s Division throughout the Ministry of Finance & Improvement Planning.
Mr.Kowo additionally recommended President George Weah for what he termed as “lastly penning his signature to the revised and permitted PFM Act of 2019 thus, placing Liberia on par with different nations within the sub-region and demonstrating the Authorities of Liberia dedication to strengthening public monetary administration within the nation”.
He additionally expressed gratitude to growth companions for his or her technical and monetary help which has considerably contributed to the extent of progress made to this point in our public monetary administration reform course of through the years.
He named among the help to incorporate: the automation of presidency price range execution by means of IFMIS free-balance on the Ministry of Finance & Improvement, and the extension or rollout of the automation course of to fifty (50) Ministries, Businesses & Commissions (MACs) with plans to roll-out to the remaining fifty-seven MACs.
As well as, the Modification and Restatement of the Public Monetary Administration 2009 Act says “it shall be supplemented by enabling laws promulgated by the Ministry of Finance & Improvement Planning with approval by the President to additional, specify the procedures in every of the areas talked about herein which can be amended on occasion”.
Moreover, the Legislature within the execution of its oversight duties shall make sure that all laws issued pursuant to this act previous to implementation by the Ministry of Finance & Improvement Planning is harmonized with this Act. It shall apply to all businesses, entities, and establishments of the Central Authorities for the aim of this Act, in line with Part I.
The Central Authorities contains the Govt, Legislature and Judiciary, together with all accompanying businesses, entities and establishments, in addition to autonomous public businesses beneath Central Authorities management.
Atty. Kowo additionally appreciated the Venture Administration Unit on the Ministry of Finance & Improvement Planning for the extent of help and steering within the planning course of, stating that “we sit up for steady cooperation with the Financial institution when it comes to technical and monetary help and in our PFM reform drive”.
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