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 modernizing it to be in line with international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, presented a motion to Parliament regarding the proposed amendments. He stressed the importance of reforming the auditing framework to ensure it adapts to the changing standards of the public sector.
The Audit Act was most recently updated in 2006, and Professor Prasad noted that the existing legislation does not account for the latest advancements in public sector auditing practices.
The amendments intend to enhance the independence of the Office of the Auditor-General (OAG), allowing it to execute its functions without outside interference.
Under the proposed changes, the OAG’s responsibilities will be broadened to encompass compliance, IT, and environmental auditing. All audits will be required to follow international standards, including the International Standards on Auditing (ISAs) and the International Standards for Supreme Audit Institutions (ISSAIs).
Professor Prasad emphasized that these amendments will safeguard the roles and duties of the Auditor-General and OAG personnel from both personal and institutional pressures, ensuring that audit results are presented independently and objectively.
Additionally, the legislation aims to equip the OAG with necessary resources by acknowledging its budget, staffing, and revenue sources as outlined in the 2013 Constitution. The amendments will also introduce provisions for reviewing audits of entities currently not overseen by the OAG and empower the Auditor-General with greater access to electronic data.
The Deputy Prime Minister announced that the review process began in June 2023, involving consultations led by the Ministry of Finance, the Office of the Auditor-General, and the Office of the Solicitor-General. The Pacific Association of Supreme Audit Institutions (PASAI) provided vital technical assistance in developing the proposed amendments.
Professor Prasad encouraged Parliament members to endorse the motion to amend the Audit Act, which would align Fiji’s auditing framework with global standards. He highlighted that these proposed changes reflect the government’s dedication to enhancing transparency, accountability, and good governance in public financial management.
He concluded by stating that the reforms would enable Fiji to modernize its public sector oversight and ensure the OAG can effectively fulfill its mandate in the future.