MONROVIA, LIBERIA – The Ministry of Finance and Development Planning, through the Office of the Comptroller and Accountant General, recently submitted the Government’s Annual Consolidated Financial Statement for the fiscal year 2023. This submission, made to the office of the Auditor General and the 55th National Legislature of Liberia, is in accordance with Section I .9 of the PFM Regulations.
Section I .9 of the PFM Regulations stipulates that each entity head of a government agency must prepare and transmit accounts covering all public funds under their control to the Auditor General and the Comptroller General every quarter starting from the beginning of the fiscal year.
Hon. Elwood T. Nettey, commenting on the submission, highlighted its compliance with the PFM Laws and associated regulations. He pointed out that the Public Financial Management Act, Part VII, section 49.1 mandates the Comptroller and Accountant General to prepare the unaudited final account of the National Budget and submit it to the Auditor General no later than four months after the end of the fiscal year.
He further explained that the submission was governed by the Amendment and Restatement of the PFM Act of 2009, particularly accounting and reporting section 49, which deals with the final Account of the National Budget and external auditing.
Moreover, the same Public Financial Management Act, Part VII section 49.1 requires that the report be submitted to the Auditor General for auditing, with copies of the same report to be submitted to the National Legislature (both houses) to represent Liberians from various counties and districts.
The timely submission and publication of the Government’s annual consolidated financial statement serve as the basis for the Auditor General to conduct the FY 2023 audit. This audit will express an opinion on the accountability and transparency in managing public funds.
