– Government revenues should not be treated and expended as personal funds, there must be proper documentation to account for expenditures, as my committee will do all in it’s powers to recover all misappropriated funds back to Government coffers – Hon. Eric Akpan.
The Akwa Ibom State House of Assembly Committee on Public Accounts in the ongoing hearing of 2023 Budget Audit Report as received from the Office of the Auditor General has highlighted significant findings and outlining measures to ensure accountability and transparency among government agencies in Akwa Ibom State.
The audit which entered it’s fourth day of hearing, covered the fiscal year ending 2023, revealed several instances of non-compliance and internal control deficiencies within various Ministries, Departments, and Agencies (MDAs). The committee emphasized the importance of MDAs maintaining accurate records and adhering to established financial protocols to foster public trust in government operations.
As the hearing continues the committee highlighted the audit identified multiple MDAs that failed to comply with financial regulations, resulting in discrepancies in budget allocations, expenditures and remittances, as several agencies were found to have weak internal controls, leading to potential risks of financial mismanagement and fraud.
The 2023 budget audit report further highlighted instances where required documentation was either incomplete or missing, undermining the integrity of financial reporting of MDA’s.
In response to these findings, the State House of Assembly Committee on Public Accounts has vowed to hold defaulting MDAs accountable. The committee has further planned to implement an Increased scrutiny of financial activities within MDAs to ensure compliance with regulations.
The committee’s chairperson, Hon. Eric Akpan stated, “We are committed to ensuring that all government agencies adhere to the highest standards of financial management. By holding defaulting MDAs accountable and implementing stringent oversight measures, we aim to restore and maintain the confidence of our citizens in the government’s financial integrity.”
The hearing of the 2023 budget audit report on MDAs marks a significant step towards greater accountability and transparency in government operations, reinforcing the commitment of the State House of Assembly to uphold the principles of good governance, accountability and transparency at all levels.
The days hearing had representatives from twenty MDAs appearing before the committee to give insights on their financial activities in the audited fiscal year.
