FINANCIAL ADMINISTRATION AND AUDIT ACT

ARRANGEMENT OF SECTIONS

PART I
Preliminary

   1   Short title

   2   Interpretation

 

PART II
Consolidated Fund Bank Accounts

   3   Consolidated Fund Bank Accounts

   4   Restriction on overdrafts

   5   External Consolidated Fund Account

   6   Investment of moneys

 

Payments into Consolidated Fund

   7   Revenues to be paid into Consolidated Fund

   7A   Loans and grant to Government

   8   Regulations may modify section 7 or 7A

   8A   Directions re fees, penalty, proceeds of sale or extra or unusual receipt

 

Withdrawals from Consolidated Fund Account

   9   Issue of warrants

   10   Authorising withdrawals from Consolidated Fund Principal Bank Account

   11   Bank statements

   12   Advances to Government

 

Contingencies Fund, Trust Fund and Other Funds

   13   Establishment of Contingencies Fund

   14   Trust Funds

   14A   Deposit Fund

 

PART IIA
Loans and Advances

   14B   Loans and advances

   14C   Investments

   14D   Particulars to be included annual estimates

 

PART III
Administration

   15   Accountant-General

   16   Accounting officers

   17   Official bank accounts

   18   Control of expenditure

   19   Commitment of expenditure

   19A   Appropriation

   19B   Regulations governing contracts

   19C   Authorisation of payments

   20   Surcharge by Financial Secretary

   21   Notification of surcharge

   22   Withdrawal of surcharge

   23   Remedy of person aggrieved by surcharge

   24   Recovery of surcharge

 

Government Accounts

   24A   Government accounts

   24B   Basis of accounts

   24C   Retention money

   24D   External loan accounts

   24E   Credit agreements

   24F   Financial instructions

   24G   Annual statements

   24H   Finance accounts

   24I   Departmental accounts

   24J   Erroneous payments

   24K   Confidential expenditure

   24L   Settlement of undischarged commitments after close of financial year

 

PART IV
Audit

   25   Duties of Auditor-General

   26   Notification of irregularities

   27   Defective vouchers

   28   Certification of accounts

   29   Annual report by Auditor-General

   30   Audit of accounts of public body by Auditor-General

   31   Powers of Auditor-General to, order audit of books of public body

   32   Auditor-General to be informed re termination of auditor's services

 

Audit Committees

   33   Establishment of audit

   33A   Functions of Audit Committee

   33B   Relationship with Auditor-General

 

Audit Commission

   33C   Establishment of Audit Commission

   33D   Functions of Audit Commission

   33E   Policy directions

   33F   Pensions, gratuities and other retiring benefits

 

Financial Provisions, Accounts and Reports

   33G   Funds and resources of Audit Commission

   33H   Power to invest moneys

   33I   Accounts and audit

   33J   Annual report and estimates

   33K   Operating plan

   33L   Power of Minister to require return

   33M   Exemption from taxes and duty

   33N   Recovery of debts

 

General

   33O   Register

   33P   Right to information

   33Q   Duty of care

   33R   Reliance on statement

   33S   Special reports to Commission

   33T   Minister may amend Schedules

   34   Internal audit

 

PART V
Government Property

   35   Custody and control of Government property

   36   Responsibilities of accounting officers re property

   37   Disposal of government property

   38   Sales of government property

   39   Marking of government property

   40   Supplies revolving fund

 

PART VI
Public Bodies

   41   Application of this Part

   42   Financial year of public bodies

   43   Payments to public body

   44   Responsibilities of accounting officer in relation to public bodies

   45   Powers of Minister in cases of default

   46   [Repealed by Act 30 of 2001 s 28.]

   47   [Repealed by Act 30 of 2001 s 28.]

   48   Report on government companies by Registrar of Companies

 

PART VII
Fiscal Responsibility Framework

   48A   Interpretation for Part VII

   48B   Development and Implementation of Fiscal Policy, etc

   48C   Fiscal Targets

   48D   Fiscal Management Principles

   48E   Fiscal Transparency

   48F   Tax Expenditure Statement

   48G   Report on statement of excess, etc

   48H   Compensation settlements

   48I   Central Treasury Management

 

PART VIII
General

   49   Responsibilities of accountable officers

   50   Regulations

   51   Directions to institutions by Financial Secretary

   52   Minister's approval of certain payments

      SCHEDULES

 

THE FINANCIAL ADMINISTRATION AND AUDIT ACT

[Date of Commencement: 15th June, 1959]

Law 34 of 1959.

Acts
42 of 1969,
13 of 1992,
5 of 1997,
30 of 2001,
3 of 2002,
9 of 2009,
1 of 2010,
5 of 2010,
19 of 2011.

PART I
Preliminary (sections 1-2)

1    Short title

   This Act may be cited as the Financial Administration and Audit Act.

2   Interpretation

   (1) In this Act-

   "accountable officer" means any public officer, including an accounting officer, concerned in or responsible for the collection, receipt, custody, issue or payment of public moneys or other public property;

[13/1992 s 2(a).]

   "accounting officer" means any person designated as such by the Minister pursuant to section 16 and charged with the duty of accounting for expenditure on any service in respect of which moneys have been appropriated under this Act or under any other enactment;

   "appropriate Minister" means in relation to a statutory body the Minister exercising authority under law as respects such statutory body,

   "Appropriation Act" means any enactment appropriating revenue in relation to a financial year for such services as are specified in such enactment;

   ""Audit Commission" means the Audit Commission established under section 33C;

[9/2009 s 2(a).]

   "audit committee" means an audit committee established under section 33;

[9/2009 s 2(a).]

   "charter" means the documented terms of reference prepared by the audit committee pursuant to paragraph 9 of the First Schedule, as approved by the Audit Commission;

[9/2009 s 2(a).]

   "Consolidated Fund" means the Consolidated Fund established pursuant to section 114 of the Constitution:

[13/1992 s 2(b).]

   "Consolidated Fund Bank Account" means-

   (a)   the Consolidated Fund Principal Bank Account;

   (b)   a Consolidated Fund Subsidiary Bank Account;

   (c)   a Consolidated Fund External Account; or

   (d)      a Consolidated Fund Foreign Currency Account;

[5/1997 s 2(a).]

   "Crown Agents" means the Crown Agents for Oversea Governments and Administrations;

   "functions" includes powers and duties;

[13/1992 s 2(c).]

   "government company" means a company registered under the Companies Act, being a company in which the Government or an agency of the Government, by the holding of shares, is in a position to direct the policy of that company;

This section of the article is only available for our subscribers. Please click here to subscribe to a subscription plan to view this part of the article.