ENHANCING PUBLIC ACCOUNTABILITY

Sep 12, 2013 Features / Columnists, Peeping Tom

If an agency is an Authority or a corporation, then its accounting requirements are totally different from that of a government department. In fact, the mere production of financial statements while being sufficient for the purposes of public accounting is never going to be ideal when dealing with agencies that are supposed to enjoy some degree of financial autonomy from Central Government.
The statutory requirements for such bodies demand only that the audited accounts be laid in parliament but best practices would dictate that the public should be entitled to much more, say a detailed annual report outlining the achievements and challenges that the agency faced during each accounting year.
This is all the more imperative if the agency handles a great deal of money. At least the public would be more satisfied if instead of merely accounting for each dollar and cent and having such accounts certified by the Auditor General as accurately reflecting the finances of the entity concerned, the stewardship exercised by the management itself is made more transparent through the publication of an annual report.
While it is true that an annual report more or less replicates the audited financial statements of the agency concerned, it also allows for the public to have a greater understanding of what the agency did over the accounting period and what challenges it faces. The degree of transparency represented by the publication of annual reports would be enhanced by the publication of annual reports regardless if whether such reports are a statutory requirement.
One of the problems that Guyana experienced was that, after the wave of privatization that took place following the economic liberalization of the State sector was that a great many of the oversight bodies for public corporations and authority were removed. These oversight and holding bodies represented a huge drain on the limited financial resources and staffing these bodies with competent personnel would have represented something of a challenge at a time when the economy was virtually on its knees and in rebuilding mode.
As such there has been limited oversight of public corporations Authorities and agencies that enjoy relative autonomy, from central government control. As a result concerns, some of them misplaced have been raised about the level of transparency that exists.
Donald Ramotar is someone who has demonstrated a higher commitment to public transparency and accountability and therefore he should continue in this vein by strengthening the oversight mechanism that exists in relation of these autonomous and semi- autonomous bodies.
For one he should insist, as was done in the case of the University of Guyana, that despite there being no proven malfeasance, if accounting systems are flawed or there are problems with accounts that those responsible be so held and be replaced.
It is important however, that first, all semi autonomous and autonomous agencies, including corporations and any public Authority be asked to produce annual reports of other reports aimed at providing enhanced accountability and transparency.
Thus, it is not sufficient to know the financial state of any such entity. What is required is for the agency to report on what were its objectives at the start of the year and the extent to which these were achieved.
This would be a useful starting point for a review of both the performance of the management as well as for those agencies that have Boards. There should be no holy cows operating in any government agency and if having set out new requirements as to what is expected there is a deviation from these new standards, then the President should intervene and appoint new personnel to take over.
There are many competent persons out there who can be suitable replacements for some public officials who may be inclined to feel that there are permanent fixtures.
The President therefore needs to ensure that there is review of the existing oversight mechanisms and to also ensure that there is the required capacity to undertake the reviews that are necessary. The oversight body should establish new standards of reporting, accountability and transparency and should monitor the agencies that are required to comply with these new standards.
Where any agency fails to do so then the axe must fall on those responsible, regardless of the connections of that individual.

Latest News

ENHANCING PUBLIC ACCOUNTABILITY

Related

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

‘One Guyana’ 3×3 Quest tips off today

Twin tons from Anderson, Imlach steer Eagles back...

Race for quarterfinal spots commence today at MoE...

Marsh sets up Lucknow’s comfortable win...

Saints and GTI dominate as YBG Georgetown...

Carty misses ton, Hamilton (80) sets up tense...

Features/Columnists

The One-Man Republic

The U.S. “Joining” the Commonwealth: an unreasonable expectation

Polls – what they say, where I stand

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]

ENHANCING PUBLIC ACCOUNTABILITY

Share this:

Related

Similar Articles

The Glenn Lall Show|| April, 4th, 2025

Follow on Tik Tok @Glennlall

THE BLUNT OF THE DAY

Sports

Features/Columnists

Publisher’s Note

Weekend Cartoon

Bridge Watch

Demerara Harbour Bridge

> Berbice Bridge […]