PARLIAMENT has passed the Audit Bill 2024, a landmark piece of legislation aimed at modernising the country’s financial oversight and accountability mechanisms.
Bill No 17 of 2024, which was passed on Wednesday, repeals the Audit Act 1969 and introduces a new framework aligning Fiji’s auditing standards with international best practices.
It outlines the powers, duties and responsibilities of the Auditor-General, and introduces several significant changes, including:
- Expanded powers of the Auditor-General — the Auditor-General now has greater authority to conduct special investigations, review audits carried out by other auditors and report findings directly to Parliament.
- Mandatory reporting on financial Irregularities — any serious irregularities in public financial management must be reported to the responsible minister or relevant authority.
- Auditing of off-budget entities — The Auditor-General may now audit the accounts of entities that receive government funding or guarantees, even if they are not traditional public bodies.
- Code of Ethics for auditors – The Bill enforces stricter ethical standards for auditors working in the public sector.
- Procedural fairness in reports — Before finalising reports, individuals or entities named in the audit must be given an opportunity to respond to findings that could impact their reputation.
Deputy Prime Minister and Finance Minister Professor Biman Prasad said the Bill was necessary to enhance public trust in financial management.
“The Audit Act 1969 was outdated and no longer fit for purpose,” he said.
“This new legislation ensures Fiji’s audit processes align with international standards, strengthening transparency and accountability.”
