The Plenary of the House of Representatives, has formally committed to undergo a System Review Audit.
The audit, according to a release, is being conducted by the General Auditing Commission (GAC).
it is conducted to increase transparency, and institutional accountability.
This decision follows a formal communication from the GAC under the reference: “Engagement Letter On The System Review of the House of Representatives.”
According to the letter, the Commission will conduct a comprehensive review of the Financial Management System, and Processes of the House for the period covering January 1, 2022, to December 31, 2024.
The Speaker of the House, Richard Nagbe Koon, welcomed the audit initiative.
Koon then called on all members, and administrative staffs to fully cooperate with the GAC team during the course of the review.
He said the audit is not only in keeping with the principles of good governance, but also provides an opportunity for the legislature to strengthen its financial systems.
“We must lead by example. The House welcomes the GAC engagement, and pledges full cooperation to ensure a smooth and transparent review process,” Koon said.
The System Review, conducted under the mandate of the auditor general as outlined in Section 2.1.3 of the GAC Act of 2014, is a limited assurance engagement.
It aims to evaluate the current financial systems in place and provide actionable recommendations for improvements ahead of a full audit.
Key focus areas of the review include: Administration, including personnel management, payroll, and maintenance; financial management practices: accounting policies, budgeting, and reporting procurement, and liabilities management;
receivables and asset management; internal control systems, including internal audit functions; banking transactions and reconciliation practices; reconciliation between House expenditures, and those of the Ministry of Finance and Development Planning.
The GAC will assess these systems to identify gaps, risks, and inefficiencies, and propose reforms to improve accountability, efficiency, and transparency.
This marks a significant step in the House’s commitment to uphold the principles of good governance, fiscal discipline, and public trust.