MFDP submits Annual Consolidated Financial Statement

Monrovia, Liberia - The Ministry of Finance and Development Planning through the Office of the Comptroller and Accountant General made submission of the Government’s Annual Consolidated Financial Statement for FY2023 to the office of the Auditor General and the 55^th National Legislature of Liberia.

`Section I .9 of the PFM Regulations states: “There shall be prepared by each entity head of government agency and transmitted to the Auditor General, the Comptroller General, in respect of each quarter commencing from the beginning of the fiscal year, the accounts covering all public funds under his or her control.”

According to Hon. Elwood T. Nettey, the submission was in compliance with the PFM Laws and its attending regulations.

He noted that Public Financial Management Act, Part VII, section 49.1 states ‘’ the Comptroller and Accountant General shall 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 fiscal year’’.

‘’ the Law that surmount the report submission is the Amendment and Restatement of the PFM Act of 2009, while accounting and reporting section 49 says final Account of the National Budget and external Auditing’’ he explains

However, the same public Financial Management Act, Part Vll section 49.1 also says that the report should be submitted to the Auditor General for Auditing and copies of the same report should be submitted to the National Legislature (both houses) because they represent Liberians from various counties and districts.

The Government annual consolidated financial statement, when submitted and published on time, establishes the basis for the Auditor General to conduct the FY 2023 audit, expressing opinion as it relates to accountability and transparency in managing public funds.