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Component 3

Reinforcing Financial Oversight and Accountability

The objective is to enhance external audit capacity as well as legislative oversight over budget management.

Sub-component 3.1: External Audit Capacity Strengthening

The objective of this sub-component is to strengthen the financial oversight role of the GAS to enable them to carry out comprehensive performance and systems-based audit on Government financial operations.

ACTIVITIES

    • Provision of continuous training of GAS staff in electronic audit techniques
    • Acquisition, installation and deployment of appropriate Computer Assisted Auditing Techniques (CAATs) and other Audit Management Information System (AMIS);
    • Undertaking of selected performance and specialized audits using the electronic tools; and
    • Strengthening capacity of the audit teams in completing audits of MMDAs within the statutory deadline of six months after end of fiscal year, through additional bought-out technical assistance.

Sub-component 3.2:  Legislative Oversight

The objective of this sub- component is to enhance the capacity of the Legislature to exercise appropriate oversight over both upstream and downstream PFM processes to ensure transparency and accountability in public financial management.

ACTIVITIES

    • Technical assistance to strengthen the technical capacity to support Parliamentarians in performing budget analysis as well as analysis of audited public accounts and reporting on audit report reviews/hearings; enhancing the technical and professional capacity of clerks of the two committees, equipment support and website improvement.