26 C
Liberia
Saturday, December 14, 2024

Tel/WhatsApp +231 888178084 |onlinenewsverity@gmail.com

Tipme Ads

Senate Pro-Tempore Vows Financial Overhauling Amid GAC Audit Findings

The Senate Pro-Tempore of Liberia, Nyonblee Karngar Lawrence, has pledged a resolute commitment to reforming the Senate’s financial management system.

This commitment comes in response to a recent audit by the General Auditing Commission (GAC), which revealed significant deficiencies in the Senate’s adherence to financial management protocols. The audit marks a crucial turning point for the legislative body, which has long struggled with issues of financial mismanagement and lack of accountability.

Senator Lawrence, reflecting on her earlier promises during her induction ceremony, emphasized the importance of these reforms as a central pillar of her leadership. “On the day of our induction as the President Pro-Tempore of the Liberian Senate, a list of deliverables from our Senate reformation plan was presented, which included having a more transparent and accountable Senate under our leadership,” she recalled. Her words now resonate with greater urgency as the Senate confronts the findings of the GAC’s audit.

For the first time in the Senate’s history since its reestablishment in 2006, the General Auditing Commission was invited, just a month after Senator Lawrence’s induction, to conduct a thorough assessment of the Senate’s financial management systems and controls. This bold and unprecedented step underscores the Pro-Tempore’s determination to break with past practices and institute a culture of fiscal responsibility.

The audit conducted by the GAC was comprehensive, scrutinizing every aspect of the Senate’s financial operations. It included an in-depth review of the Senate’s accounting and financial management processes, policies, and procedures. The audit also assessed the Senate’s financial reporting mechanisms, internal controls, document management systems, and compliance with applicable laws and regulations.

Importantly, the audit was completed with the full support and cooperation of the Senate, reflecting a collective acknowledgment of the need for reform.

Upon receiving the final report from the GAC, the Senate did not hesitate to approve it, signaling a clear recognition of the need for immediate action. Senator Lawrence expressed that the Senate is committed to implementing the recommendations outlined in the report to establish a robust financial management system.

“After the GAC made the final presentation, the Senate, without hesitation, approved the Report and agreed to start implementing the proper financial management systems to ensure that the Senate’s financial management system and controls environment begin to operate effectively and efficiently,” she stated.

The audit’s findings are expected to pave the way for the establishment of a more rigorous financial management framework within the Senate. This will not only enhance transparency and accountability but also ensure that the Senate’s financial operations are conducted with the highest standards of fiscal prudence.

Senator Lawrence noted that these reforms would enable the Senate to be audited annually, a significant step toward restoring public trust in the legislative body’s financial integrity.

In addressing the conclusions of the GAC report, Senator Lawrence clarified that the findings were based on a non-systematic financial regime, indicating that the Senate had previously lacked a formalized system for financial management. “This means that the Senate has never had any systems in place to be audited. We are asking to work with the GAC and other financial institutions to develop a financial management system and procedures that can be audited during and after our leadership,” she explained. This acknowledgment points to a deep-seated issue within the Senate’s operations, one that Senator Lawrence is determined to rectify.

In a broader context, Senator Lawrence emphasized that the Legislature must set the standard for transparency and accountability across all branches of government. “We are pleased to assure the public that the Legislature must lead by example. If we cannot run a transparent and accountable Legislature, we cannot use our oversight responsibility to hold other institutions accountable,” she asserted. This statement underscores the Pro-Tempore’s vision for a reformed Senate that not only meets its internal obligations but also upholds its oversight role with integrity.

As the Senate moves forward with its reformation agenda, Senator Lawrence assured the public that regular updates would be provided on the progress of these initiatives. “This is what reformation is about. We will continue to update the public on the progress of our reformation agenda,” she promised.

On another significant note, the Senate has also addressed concerns regarding the recent 2024 National Budget. Before the second closure of the legislative session, the Senate raised issues about discrepancies in the final printed version of the budget. Senator Lawrence confirmed that these concerns would be thoroughly investigated during the upcoming budget recast. “The Senate works through committees, and no issues have been downplayed or compromised by our leadership. We look forward to returning as soon as possible to resolve all issues of concern in addition to the recast of the budget,” she affirmed.

The steps taken by Senator Lawrence and the Liberian Senate represent a pivotal moment in the quest for good governance in Liberia. As these reforms take shape, the hope is that they will lead to a more transparent, accountable, and fiscally responsible Senate, setting a precedent for all government institutions in the country.

Zac T. Sherman
Zac T. Shermanhttps://verityonlinenews.com/
Zac Tortiamah Sherman has over a decade of media experience with several certificates in journalism and leadership. He has served as a broadcaster, reporter, and news editor. Zac is a graduating senior for a BBA degree in Management and Entrepreneurship at the University of Liberia.

Related Articles

Stay Connected

26,250FansLike
115FollowersFollow
153SubscribersSubscribe
- Advertisement -spot_img

Latest Articles

Open chat
Powered by VERITY NEWS
Hello
Can we help you?