The Ministry of Finance, through the Attorney General’s Office, has begun a thorough examination of Fiji’s Audit Act with the goal of modernizing it to meet international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, introduced a motion to Parliament that describes the proposed changes and emphasizes the necessity for reforms to enhance the nation’s auditing framework in response to evolving public sector demands.
The Audit Act was last updated in 2006, and Professor Prasad pointed out that the current legislation fails to reflect the latest advancements in public sector auditing practices.
The intended amendments will enhance the independence of the Office of the Auditor-General (OAG), guaranteeing that it can fulfill its responsibilities without external pressures.
Furthermore, these changes aim to broaden the OAG’s functions to cover compliance, information technology, and environmental auditing, while also requiring that all audits conform to international standards, such as the International Standards on Auditing (ISAs) and the International Standards for Supreme Audit Institutions (ISSAIs).
Professor Prasad emphasized that the amendments are meant to safeguard the roles and responsibilities of the Auditor-General and OAG staff from both personal and institutional influences. This is crucial for ensuring that audit findings are presented in an independent and objective manner.
The proposed legislation also seeks to equip the OAG with necessary resources by acknowledging its budget, staffing, and revenue streams under the 2013 Constitution.
There are also provisions to review audits of entities that are not currently under the OAG’s oversight, and the powers of the Auditor-General will be expanded to include access to electronic data.
The Deputy Prime Minister mentioned that the review process started in June 2023, with consultations led by the Ministry of Finance, the Office of the Auditor-General, and the Office of the Solicitor-General.
Support from the Pacific Association of Supreme Audit Institutions (PASAI) was critical in developing these proposed amendments.
Professor Prasad has called on Parliament members to support the motion to revise the Audit Act, as it would align Fiji’s auditing framework with international norms.
He stated that these proposed amendments demonstrate the government’s dedication to enhancing transparency, accountability, and good governance in public financial management.
Professor Prasad also noted that these reforms would help Fiji modernize its public sector oversight, ensuring that the OAG can effectively fulfill its mandate in the future.