The Senate has passed another landmark Bill in the fight against
\ncorruption. The Bill, known as the Federal Audit Service Commission Bill,
\n2018 ( HB. 107), which was passed for concurrence, is aimed at:
\nestablishing the office of the Auditor-General for the Federation and
\nprovide additional powers and functions to the office; establishing the
\nFederal Audit Service Commission; repealing the Audit Act 1956, the Public
\nAccounts Committees Act; and enacting the Federal Audit Service Bill,
\n2015.<\/p>\n
Speaking on this development, President of the Senate, Dr. Abubakar Bukola
\nSaraki said: Today is a landmark achievement in the fight against
\ncorruption. This is will bring accountability and probity in the finances
\nof the government and the fight against corruption.<\/p>\n
I must commend all the members of the National Assembly, both the Senate
\nand the House of Representatives. This will go a long way in ensuring the
\nindependence of the office of the Auditor-General and will ensure that the
\nAuditor-General has access to different parastatal agencies.<\/p>\n
We truly have to block all the various leakages. We have to ensure that
\nwe get this to Mr. President to get his assent. We have gone a long way in
\nthis administration in our fight against corruption, and it is commendable
\nthat the National Assembly are the sponsors and movers of this very
\nimportant Bill, which we can see has been outdated for many years. We will
\ncontinue to play our part in this fight against corruption for the sake
\nour country, he said.<\/p>\n
These are the 24 Benefits of the Federal Audit Services Bill Passed by the
\n8th Senate Today<\/p>\n
Functions of the Office of the Auditor-General of the Federation:
\n1. Expressing an opinion on whether the financial statement prepared by
\nthe government of the federation fairly represents or otherwise the
\nfinancial position and results of operation<\/p>\n
2. Carrying out audit, except when the Constitution provides otherwise, of
\nall revenues accruing to the Federation and all expenditures of the
\nFederation from all sources<\/p>\n
3. Carrying out audit, except otherwise provided by the Constitution, of
\ndonations, grants and loans accruable to the Federal Ministries,
\ndepartments and agencies or other public entities<\/p>\n
4. Carrying out performance audit by ensuring that Federal Government and
\nits agencies business is economically, efficiently and effectively
\nperformed<\/p>\n
5. Carrying out audit on classified expenditure<\/p>\n
6. Carrying out forensic audits<\/p>\n
7. Carrying out audit of international institutions to the extent of
\nNigerias contribution to such bodies<\/p>\n
8. Carrying out audit of all Federal government and its agencies subsidies
\nand their application<\/p>\n
9. Carrying out audit of all federal government and its agencies
\ncounterpart funded projects in the country<\/p>\n
10. Carrying out audit of all Nigerian embassies, consulates and foreign
\nmissions<\/p>\n
11. Carrying out audit of performance information<\/p>\n
12. Carrying out audit of disaster related grants and aids<\/p>\n
13. Carrying out audit of public private partnership entered into by the
\nFederal government and its agencies assets and promote good governance<\/p>\n
Powers of the Auditor-General:
\n14. Power to select the methodology to be adopted in respect of an audit;<\/p>\n
15. Power to determine the nature and extent of audit to be carried out
\nand request details, account statements and financial statements, that he
\nconsiders necessary;<\/p>\n
16. Request in writing, any person in the employ of the Federal
\nministries, departments and agencies and international institutions whose
\naccounts are being audited by the Office of the Auditor-General to make an
\nappearance at a specified place and time; or produce such records, books,
\nvouchers and documents under the control of that person;<\/p>\n
17. Power to investigate and make extracts from any record, book, document
\nand other information of any federal ministries, department and agencies
\nor international institutions whose accounts are being audited by the
\nOffice of the Auditor-General;<\/p>\n
18. Power to liaise with persons, federal ministries, departments and
\nagencies or other entities and international institutions in Nigeria or
\noutside Nigeria, on such conditions as he deems t for the proper
\nperformance of his functions;<\/p>\n
19. Power to surcharge the amount of any expenditure which has not been
\nduly brought into account or the amount of any loss or deficiency
\nincurred;<\/p>\n
20. Power to revoke any surcharge imposed by the Office of the
\nAuditor-General<\/p>\n
21. Power to direct the withholding of the emoluments and allowances of
\npersons who fail or refuse to reply to audit queries in 30 days and for as
\nlong as the person fails to comply<\/p>\n
22. Power to have restricted access to persons, documents, records and
\nother information necessary for proper discharge of statutory obligations;<\/p>\n
23. Power to audit all money accruing to the nation or federal ministries,
\nagencies and departments or other public entities and international
\ninstitutions;<\/p>\n
24. Power to audit donations, grants, loans and other forms of assistance
\naccruable to the federal government agencies, ministries and departments.<\/p>\n
The Senate has passed another landmark Bill in the fight against corruption. The Bill, known as the Federal Audit Service Commission Bill, 2018 ( HB. 107), which was passed for…<\/p>\n","protected":false},"author":1,"featured_media":56785,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_lmt_disableupdate":"","_lmt_disable":"","footnotes":""},"categories":[5],"tags":[],"class_list":["post-61091","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news"],"yoast_head":"\n