issues concerning financial mismanagement and potential corruption within
various executive branch entities of the Federal Government of Somalia.
This letter provides detailed observations and data analysis that necessitate
an urgent and comprehensive audit by the Office of the Auditor General of
Somalia (OAGS).
As we know, the activities of the Office of the Auditor General of Somalia are
based on the Financial Management Procedures of the government.
Currently, this includes the following Acts:
1. Law No. 2 of 29/12/1961: Financial & Accounting Procedure of the
State
2. Law No. 317 of 17/12/1962: Regulations for the Accounts of the State
3. Law No. 318 of 18/12/1962: Stores Regulations
4. Law No. 34 of 14/04/1972: Magistrate of Account
In the matter of the management and control of public finances, the Federal
Republic of Somalia Parliament plays a very important role. The expenditure
of public funds by the Federal Government of Somalia is subject to
authorization and control by the Federal Republic of Somalia Parliament. In
incurring expenditure of public funds, the Executive Branch is required to
exercise strict commitment and expenditure control and ensure the efficiency
and economy of operations in accordance with the intentions of Parliament.
It is also required to prepare detailed sets of accounts and financial
statements.
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