NASSNEWSNG
Nigeria Assembly News,Serving it Hot!
nass banner new
AWARD BANNER

Anti-Corruption: 8th Senate Passes Another Landmark Bill – 24 Benefits of the Bill You Should Know

0 74

Anti-Corruption: 8th Senate Passes Another Landmark Bill – 24 Benefits of the Bill You Should Know

nassnewsng.com

Today, the 8th Senate Passed the another landmark Bill in the fight against corruption. The Bill, known as the Federal Audit Service Commission Bill, 2018 ( HB. 107), which was passed for concurrence, is aimed at establishing the office of the Auditor-General for the Federation.*

*Here is everything you need to know about this Bill.*

*Functions of the Office of the Auditor-General of the Federation:*
1. Expressing an opinion on whether the financial statement prepared by the government of the federation fairly represents or otherwise the financial position and results of operation

2. Carrying out audit, except when the Constitution provides otherwise, of all revenues accruing to the Federation and all expenditures of the Federation from all sources

3. Carrying out audit, except otherwise provided by the Constitution, of donations, grants and loans accruable to the Federal Ministries, departments and agencies or other public entities

4. Carrying out performance audit by ensuring that Federal Government and its agencies business is economically, efficiently and effectively performed

5. Carrying out audit on classified expenditure

6. Carrying out forensic audits

7. Carrying out audit of international institutions to the extent of Nigeria’s contribution to such bodies

8. Carrying out audit of all Federal government and its agencies subsidies and their application

9. Carrying out audit of all federal government and its agencies’ counterpart funded projects in the country

10. Carrying out audit of all Nigerian embassies, consulates and foreign missions

11. Carrying out audit of performance information

12. Carrying out audit of disaster related grants and aids

13. Carrying out audit of public private partnership entered into by the Federal government and its agencies assets and promote good governance

*Powers of the Auditor-General:*
14. Power to select the methodology to be adopted in respect of an audit;

15. Power to determine the nature and extent of audit to be carried out and request details, account statements and financial statements, that he considers necessary;

16. Request in writing, any person in the employ of the Federal ministries, departments and agencies and international institutions whose accounts are being audited by the Office of the Auditor-General to make an appearance at a specified place and time; or produce such records, books, vouchers and documents under the control of that person;

17. Power to investigate and make extracts from any record, book, document and other information of any federal ministries, department and agencies or international institutions whose accounts are being audited by the Office of the Auditor-General;

18. Power to liaise with persons, federal ministries, departments and agencies or other entities and international institutions in Nigeria or outside Nigeria, on such conditions as he deems t for the proper performance of his functions;

19. Power to surcharge the amount of any expenditure which has not been duly brought into account or the amount of any loss or deficiency incurred;

20. Power to revoke any surcharge imposed by the Office of the Auditor-General

21. Power to direct the withholding of the emoluments and allowances of persons who fail or refuse to reply to audit queries in 30 days and for as long as the person fails to comply

22. Power to have restricted access to persons, documents, records and other information necessary for proper discharge of statutory obligations;

23. Power to audit all money accruing to the nation or federal ministries, agencies and departments or other public entities and international institutions;

24. Power to audit donations, grants, loans and other forms of assistance accruable to the federal government agencies, ministries and departments.

Subscribe to our newsletter
Sign up here to get the latest news, updates and special offers delivered directly to your inbox.
You can unsubscribe at any time

Leave A Reply

Your email address will not be published.