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 aim of modernizing it to align with international standards and best practices.
Deputy Prime Minister and Minister for Finance, Professor Biman Prasad, introduced a motion in Parliament detailing the proposed amendments, underscoring the necessity for reforms to enhance the country’s auditing framework and adapt to evolving public sector standards.
The Audit Act, which was last updated in 2006, has been identified by Professor Prasad as not reflective of recent advancements in public sector auditing practices.
The proposed amendments seek to bolster the independence of the Office of the Auditor-General (OAG), ensuring that it can fulfill its responsibilities without external influence. Additionally, the changes will broaden the OAG’s responsibilities to encompass compliance, IT, and environmental auditing, while requiring all audits to comply with international standards, including the International Standards on Auditing (ISAs) and the International Standards for Supreme Audit Institutions (ISSAIs).
Professor Prasad emphasized that the amendments are crafted to safeguard the roles and responsibilities of the Auditor-General and other OAG personnel against personal and institutional pressures, ensuring that audit results are conveyed independently and objectively.
“The legislation also aims to equip the OAG with necessary resources by recognizing its budget, staffing, and revenue streams as outlined in the 2013 Constitution,” he stated. “Provisions are also included to review audits of entities currently outside the OAG’s oversight, and the Auditor-General’s powers will be expanded to allow access to electronic data.”
The review process began in June 2023, facilitated by consultations among the Ministry of Finance, the Office of the Auditor-General, and the Office of the Solicitor-General. Furthermore, technical support from the Pacific Association of Supreme Audit Institutions (PASAI) has been vital in developing the proposed amendments.
Professor Prasad encouraged members of Parliament to back the motion to amend the Audit Act, as it would align Fiji’s auditing framework with international standards. He stated that the proposed amendments demonstrate the government’s dedication to enhancing transparency, accountability, and good governance in public financial management.
Moreover, Professor Prasad remarked that these reforms would allow Fiji to modernize its public sector oversight, enabling the OAG to effectively execute its mandate moving forward.