The Government has said it plans to institute changes in the way procurement performance audits are conducted in order to bring about a more insightful assessment of attainment of value for money, TPJ has learnt.

This came to light in the speech of the Minister for Finance and Planning, Dr. Mwigulu Lameck Nchemba, when he was tabling the Government budget for the financial year 2022/23.

He said that the Government was working towards conducting real time performance audits instead of just financial audits in an effort to minimize loopholes in procurement systems that lead to loss of Government revenue.

Dr. Mwigulu told Parliament that the the Government would continue to strengthen both the Controller and Auditor General and internal audit units by providing them with capacity building programmes and increasing human capital in diverse fields such as information communications technology (ICT), engineering, quantity surveying, laboratory technology, law, and procurement, to hammer home the fact that audit is also relevant and necessary for fields other than finance.

The minister sited some shortfalls in Government spending, particularly in bulky procurement and development projects, whereas in some circumstances the law, regulations as well as audit requirements, were adhered to, yet misuse of funds occurred or projects were completed below standards.

“The Government will strengthen the internal audit departments to be able to conduct real time performance or value for money audits, instead of just financial audits, to minimize various loopholes,” said Dr. Mwigulu.

Furthermore, the minister assured the Parliament, that the Government would also amend public financial regulations to allow audit committees to include three external members so as to enhance independency and efficiency of audit committees which would submit quarterly reports to the Internal Auditor General.

The minister went on to issue a warning to accounting officers who fail to comply and to respond to CAG and IAG recommendations that they would be punished according to 2005 Public Finance Regulations which stipulate among other penalties, a deduction of 5 to 30 percent of salary per month and removal from their position.