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Audit Approach

The Auditor General (AG) is required to submit audit reports on the financial statements of all the Accountable Government Agencies to the Accountable Officers (AO) by 31st May of every year, pursuant to section 36 (a) of the Law on Public Finance (Law No. 3/2006). Section 35 (a) of the law also stipulates that the AO of the AGAs to submit their financial statements to the AG for audit by 31st March every year. The AG is also required to submit the audit report on the consolidated financial statements of the State by 14th June of every year, pursuant to section 39 of the Law on Public Finances (Law No. 3/2006). Given lack of adequately trained accountants, many of the agencies have failed to submit quality financial statements appropriate for an audit to the AGO in the past. As such, the AGO has initiated a training programme aimed at equipping the responsible members of staff at AGAs with the technical knowledge and exposure on the preparation of financial statements to Cash Basis IPSAS. Therefore, it is expected that AGAs will produce and submit quality accounts to the AGO by the deadline of 31 March in order for the AG to deliver his report by 31 May.