The Ministry of Finance, in collaboration with the Office of the Attorney General, has launched a thorough review of Fiji’s Audit Act, aiming to update it in accordance with international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, introduced a motion in Parliament detailing the amendments necessary to enhance the country’s auditing framework and adapt to the changing norms in public sector oversight.
The Audit Act was most recently revised in 2006, and Prof Prasad noted that the current framework fails to encapsulate recent advancements in public sector auditing.
The proposed amendments are poised to fortify the independence of the Office of the Auditor-General (OAG), thereby empowering it to conduct its functions without external pressure.
These changes will broaden the OAG’s responsibilities to encompass compliance, IT, and environmental audits, establishing a requirement for all auditing processes to comply with international benchmarks such as the International Standards on Auditing (ISAs) and the International Standards for Supreme Audit Institutions (ISSAIs).
According to Prof Prasad, the reforms aim to safeguard the roles and responsibilities of the Auditor-General and other OAG personnel from institutional and personal influences, ensuring that audit results are presented independently and impartially.
“The legislation seeks to equip the OAG with necessary resources by outlining its budget, staffing, and revenue streams according to the 2013 Constitution,” he stated.
“Furthermore, provisions will allow for audits of organizations that are currently beyond the OAG’s oversight, with expanded powers enabling the Auditor-General access to electronic data.”
Deputy Prime Minister Prasad mentioned the review began in June 2023, with the Ministry of Finance, the Office of the Auditor-General, and the Office of the Solicitor-General facilitating consultations.
Technical support from the Pacific Association of Supreme Audit Institutions (PASAI) has been vital in crafting the suggested amendments.
Prof Prasad called on Parliament members to endorse the proposed changes to the Audit Act, which would align Fiji’s auditing practices with global standards.
He emphasized that these amendments represent the government’s dedication to enhancing transparency, accountability, and good governance in public financial management.
Additionally, Prof Prasad noted that these reforms would assist Fiji in modernizing its public sector oversight, enabling the OAG to carry out its responsibilities effectively in the future.