The Office of the Auditor-General is conducting an extensive review of the Audit Act of 1969, aiming to modernize the legislation to align with international standards and best practices.
Finance Minister Professor Biman Prasad stated that the Act, which was last updated in 2006, fails to reflect current developments in public sector auditing practices.
The Deputy Prime Minister outlined that the review’s primary goals include enhancing the independence of the Office of the Auditor-General (OAG) as prescribed by the Constitution, clarifying the public auditing mandate, and expanding it to include compliance, IT, and environmental audits. Additionally, all audits will be required to adhere to applicable international auditing standards.
The review also seeks to safeguard the responsibilities of the Auditor-General and OAG staff regarding how audit findings are reported. It aims to recognize the OAG’s budget, staffing, and revenue in accordance with the 2013 Constitution, allow for audits of entities not covered by the Auditor-General as specified in the Constitution, and strengthen the Auditor-General’s authority to access electronic data.
Professor Prasad noted that the Audit Bill 2024 has gone through significant consultations and received technical guidance from the Pacific Association of Supreme Audit Institutions, leading to its presentation in Parliament. He indicated that while the proposed amendments generally received strong support, stakeholders raised questions regarding specific sections of both the existing legislation and the new proposals.