The Ministry of Finance, in collaboration with the Office of the Attorney General, has launched a thorough review of Fiji’s Audit Act with the goal of updating it to meet international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, introduced a motion in Parliament outlining the necessary amendments. He stressed the importance of reforms aimed at enhancing the country’s auditing framework to align with the changing public sector standards.
The Audit Act has not been revised since 2006, and Professor Prasad pointed out that the current laws do not reflect the latest trends in public sector auditing practices.
The proposed amendments seek to fortify the independence of the Office of the Auditor-General (OAG), ensuring its operations are free from outside influence. The changes will also broaden the OAG’s responsibilities to encompass compliance, information technology, and environmental auditing, requiring that all audits conform to international standards, including the International Standards on Auditing (ISAs) and the International Standards for Supreme Audit Institutions (ISSAIs).
Professor Prasad explained that the amendments are intended to safeguard the roles and responsibilities of the Auditor-General and other OAG staff against personal and institutional pressures, thereby ensuring that audit results are reported in an independent and impartial manner.
Furthermore, the legislation aims to allocate the necessary resources for the OAG by recognizing its budget, staffing needs, and revenue sources according to the 2013 Constitution. It will also introduce provisions for reviewing audits of entities that are currently not under the OAG’s oversight and empower the Auditor-General with access to electronic data.
The Deputy Prime Minister noted that the review process began in June 2023, facilitated by consultations with the Ministry of Finance, the Office of the Auditor-General, and the Office of the Solicitor-General. Technical support from the Pacific Association of Supreme Audit Institutions (PASAI) significantly contributed to the formulation of the proposed amendments.
Professor Prasad called on members of Parliament to back the motion to amend the Audit Act, highlighting that it would align Fiji’s auditing framework with international standards. He stated that the proposed changes demonstrate the government’s dedication to enhancing transparency, accountability, and good governance in public financial management. He emphasized that these reforms would modernize Fiji’s public sector oversight, allowing the OAG to more effectively fulfill its mandate in the future.