Official: Audit committees important


IT is mandatory to set up audit committees for all Government institutions, an official says.
Department of Finance deputy secretary Dominic Ira said this during the launching of the Pacific Institute of Leadership and Governance (Pilag) audit committee in Port Moresby yesterday.
“We have about 16 audit committees set up in the provinces, 22 at the national level and 13 with the statutory bodies,” he said.
Pilag will be the 14th Government statutory body that will have an audit committee which will provide oversight in the management level.
“The role of the audit committee is to oversight and support the management to do the work properly,” Ira said.
“They make sure the process that we put in place are working in terms of financial reports and other stuff (are) complying with the laws and process.
“They represent good governance and transparency. The Government gives money to everyone, particularly the departments, provinces and statutory bodies.”

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