MFDP Conducts Three Days Retreat On “Audit Readiness” In Margibi
A three-day retreat intended to prepare staffs of the Ministry of Finance and Development Planning (MFDP) is being conducted in Kakata City Margibi County.
The Retreat which focuses on “Audit Readiness” started on Friday, May 17, 2019, at the Kakata City Hall under the theme “Preparing Staff for Smooth Audit.
About 60 persons including Directors, Compliance Officers, Senior Compliance Officers and Analysts from various functionaries such as the Ministry of Finance, General Auditing Commission (GAC) and the Internal Audit Agency (IAA) are attending the retreat.
Speaking during the opening of the event, the Comptroller and Accountant General of the Republic of Liberia Janga A. Kowo said the retreat is intended to prepare staffs of the Ministry of Finance and Development Planning for the next round of audit from the GAC.
He mentioned that the audit of the 2017/2018 fiscal year will start very soon as such; they want to make sure they organize themselves as a team to know exactly who is going to be dealing with what.
Mr. Kowo stated that the retreat will enable them galvanized their forces both intellectually and academically to make sure that they take on the audit process.
He added that the retreat will also prepare them for one of the most important processes in public financial management indicating that in the PFM circle after budget preparation and execution external audit follows terming it as a very critical component of Public Financial Management.
Mr. Kowo said upon their ascendency they noticed that previous reports of the Auditor General on various accounts of the government have not been favorable.
“So that means it is very expedient and important for us to amalgamate forces to be audit ready” he added.
The Comptroller General narrated that in his opinion most of the issues that are been raised in those audit reports are at the result of miscommunication and misunderstanding.
With this, he averred that it is very critical that staffs of the Ministry of Finance are prepared psychologically and technically to engage the auditors to ensure that the audit is simplest and smooth.
He said it means that they must be in the position to organize their files, financial reports and put in place the necessary mechanisms that when the Auditor General requests any documentation, such documentation will be provided in a timely manner.
The Ministry of Financial Comptroller General said if they succeed in doing that they will be on the path of making sure they cooperate fully with the Audit thereby leading to a positive report based on the system and processes they have in place.
He noted that the Government of Liberia has a very strong public financial management in place, a process he said some of them have been a part of from the last 10-15 years foundation in putting together the basis and foundation of public financial management system for staff.
“Some of us were there, I worked at the GAC before and giving that background I know the importance of audit because non-cooperation with the auditor can be very counterproductive for the auditee so it is very important as the office of the Comptroller and Accountant General engages the General Auditing Commission that we are prepared as Directors, Assistant Directors, Compliance Officers and Staffs of the Ministry of Finance and Development Planning” he explained.
According to him, this will enable them to know as to what documentation to present to the Auditor when those documentations are requested adding, so basically that’s why we have assembled today in Margibi County beginning today’.