Monrovia, Liberia – A one-day evaluation report on enhancing the independence of the audit function in Liberia has been launched by the World Bank and the General Auditing Commission (GAC).
The World Bank’s assessment of the General Auditing Commission’s independence and its impact on Liberia’s external audit function, which took place on Thursday, May 30, 2024, at the Mamba Point Hotel in Monrovia, reveals that the country has significantly improved in the majority of the indicators, with Liberia receiving a 7 out of 10 rating.
The General Auditing Commission’s Auditor General, P. Garswa Jackson, emphasized during the opening ceremony that in order to operationalize financial independence and improve accountability, transparency, and good governance in Liberia, it is imperative that we strengthen our premier audit institutions, like the GAC.
He stated that the GAC Act of 2014 requires the GAC to submit an annual budget to the National Legislature for the Legislature’s sole examination and approval, highlighting the crucial role the Supreme Audit Institution plays in the framework of governmental accountability. In order to allow assess to finance the conduct of audits, the approved budget should also be disbursed twice a year, although this has not yet occurred.
“As we await the recent status of our independent partners the world Bank, we believe the most important element in achieving the highest standards of independence at the GAC lies in the achievement of our financial independence practice.”
“We therefore call on the legislature, office of H.E the President, Ministry of Finance and Development Planning, the World Bank and all other development partners, Civil Society Organization and the people of Liberia to add their voices to the advocacy and ensure that we act now as a country and operationalize the financial independence of GAC. This will represent a broad step in our national quest to enhance transparency, accountability and good governance in Liberia.”
Speaking also, World Bank Operation Officer Carot Wambugu revealed that enhancing the independence of Liberia’s audit function is crucial for both the country and the international community.
She added that by conducting assessments impartially, the integrity of public financial management assistance will aid in the fight against corruption and mismanagement.
She stated that the independence of integrity institutions, particularly supreme audit institutions like the Liberia General Audit Commission, is essential for safe guiding public funds and ensuring that efficient and effective utilization is cardinal.
“In a democracy, citizens have the right to know how their taxes are spent, this plays a vital role by providing transparency and accountability to the public.”
However, Madam Wambugu urged all parties involved and development partners to give priority to bolstering the audit sector, noting that by doing so, the GAC will be more accountable and transparent and all Liberians will have a prosperous future.
“In the case of Liberia, bolstering the independence of the audit function at the GAC is not only about vertical approaches; rather, it is essential to the development and advancement of the nation. By guaranteeing that the GAC operates with total autonomy and impartiality, Liberia can improve its governance structures, draw in investment, and simultaneously improve the lives of its citizens.”
As committed stakeholders working to advance Liberia’s developmental agenda, we must back efforts to increase the independence of the audit function. In order to protect the GAC from outside pressure, this might strengthen institutional safe guidelines, capacity building programs, and legislative amendments, according to Carot Wambugu.
While acknowledging that combating corruption is a difficult task, Dorwohn Twain Gleekia, the Legislature’s Co-Chair on Public Accounts, assured the GAC of the Legislature’s assistance in making sure they received the necessary funding to operate on their own.
Liberia’s Auditor General P. Garswa Jackson, Sr., Senior Executives of the GAC, World Bank officials, U.S. Embassy officials, and important Integrity Institutions in Liberia were among the guests that attended the occasion on Thursday.
Reported by: Jenneh T. Borbor
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