The Fijian Ministry of Finance, in collaboration with the Office of the Attorney General, has launched a thorough review of Fiji’s Audit Act as part of efforts to modernize it to meet international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, brought a motion to Parliament outlining proposed amendments, highlighting the necessity for reforms to enhance the country’s auditing framework in line with evolving public sector requirements.
The Audit Act was last updated in 2006, and Professor Prasad pointed out that the existing legislation does not incorporate recent advancements in public sector auditing.
The proposed amendments intend to bolster the independence of the Office of the Auditor-General (OAG), ensuring it can execute its duties free from external pressures. Furthermore, they will broaden the OAG’s responsibilities to encompass compliance, information technology, and environmental auditing, while stipulating 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 emphasized that these changes aim to safeguard the roles and responsibilities of the Auditor-General and OAG staff against both personal and institutional influences, assuring that audit findings remain independent and objective.
“The legislation is also designed to provide the OAG with necessary resources by acknowledging its budget, staffing, and revenue streams in accordance with the 2013 Constitution,” he stated.
Additionally, the amendments will include provisions for reviewing audits of entities not currently under OAG oversight, expanding the Auditor-General’s powers to access electronic data.
The review process commenced in June 2023, with consultations coordinated by 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) has also played a critical role in formulating these proposed amendments.
Professor Prasad called on Parliament members to support the motion to amend the Audit Act, as such changes would align Fiji’s auditing framework with international standards. He added that these proposed reforms signify the government’s dedication to enhancing transparency, accountability, and good governance in public financial management.
He concluded by stating that these reforms would enable Fiji to modernize its public sector oversight and ensure that the OAG can effectively fulfill its mandate going forward.