Monrovia, Liberia – The Ministry of Finance and Development Planning through the Office of the Comptroller and Accountant General has submitted the Government’s Annual Consolidated Financial Statement for FY2023 to the office of the Auditor General and the 55th National Legislature of Liberia.
Section I .9 of the PFM Regulations states: “There shall be prepared by each entity head of government agency and transmitted to the Auditor General, the Comptroller General, in respect of each quarter commencing from the beginning of the fiscal year, the accounts covering all public funds under his or her control.”
According to Hon. Elwood T. Nettey, the submission was in compliance with the PFM Laws and its attending regulations. He noted that Public Financial Management Act, Part VII, section 49.1 states ‘’ the Comptroller and Accountant General shall prepare the unaudited final account of the National Budget and submit it to the Auditor General no later than four months after the end of fiscal year’’.
“The Amendment and Restatement of the PFM Act of 2009 is the law that supersedes the report submission, and section 49 of accounting and reporting refers to the final Account of the National Budget and external Auditing.”
Nevertheless, the same public Financial Management Act, Part Vll section 49.1 also states that, since the National Legislature (both houses) represents Liberians from different counties and districts, copies of the report should be submitted to the Auditor General for Auditing.
The Government annual consolidated financial statement, when submitted and published on time, establishes the basis for the Auditor General to conduct the FY 2023 audit, expressing opinion as it relates to accountability and transparency in managing public funds.
