The Parliamentary Public Accounts Committee has been challenged to exert pressure on public enterprises to submit financial statements for audit, failure of which the committee must invoke its powers to censure
The National Assembly Speaker, Advocate Jacob Mudenda laid bare the committee’s inefficiencies which has resulted in several ministries failing to submit their financial statements for audit.
He told the committee during an induction workshop in Kariba that statistics present an unhealthy situation in the management of the national public purse.
Advocate Mudenda reminded the committee of its role in making sure the national balance sheet is in the blue rather than the red zone, with the current account balance sheet already in red.
“Delays in submitting financial statements make it difficult to trace financial misuse, and all public entities and ministries responsible for such delays should be brought to bbok,” said Advocate Mudenda, who further explained the impact clean audits have on credit ratings.
The Public Accounts Committee plays the oversight role of ensuring financial probity in the utilisation of public funds.