Parliamentary Select Committee on Finance adopts Public Amendment Bill

The Select Committee on Finance has adopted the Public Audit Amendment Bill without amendments. The bill will give the Auditor-General greater powers to act against those found to have wasted public funds.

The bill seeks to amend the Public Audit Act, 2004, so as to insert new definitions; to provide for certainty on the discretion of the Auditor-General with regard to certain audits; and to authorise the Auditor-General to provide audit or audit-related services to an international association, body, institution or organisation. It will also allow the Auditor-General to refer undesirable audit outcomes, arising from an audit performed under the Act, to an appropriate body for investigation; and to provide for the Auditor-General to recover losses in certain instances against the responsible persons.

To read the full article, click here: https://www.cnbcafrica.com/apo/2018/06/29/south-africa-select-committee-on-finance-adopts-public-audit-amendment-bill/

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