policy
The Parliamentary Finance Committee has unveiled its detection of a series of irregularities within the state's final accounts for the fiscal years spanning from 2012 to 2015. This development is prompting the committee to host the Federal Board of Supreme Audit (FBSA) and other relevant bodies in the near future. This initiative is part of the committee's ongoing efforts to finalize the final accounts bill, prepare it for its second reading, and bring it to a vote in the Council of Representatives. In this context, MP Dilan Eid al-Ghafoor, a member of the committee, stated that a recent meeting was convened, chaired by the committee's head, MP Ady Awad al-Tamimi. The meeting was dedicated to discussing the report on the final accounts bill for the aforementioned years. These discussions led to the identification of several observations and irregularities within these accounts. Consequently, the committee decided to host the Federal Board of Supreme Audit to thoroughly examine the detected irregularities and provide the necessary clarifications. This step is crucial for completing the bill and submitting it to the Council of Representatives for approval. MP Al-Ghafoor emphasized the necessity of submitting a comprehensive report to the Council of Representatives after the FBSA's visit and the presentation of its observations. The goal is to discuss these irregularities within the Finance Committee, subsequently completing the legislative procedures and voting on them. It is noteworthy that there has been a significant delay in discussing final accounts for many years since 2012. This constitutes a clear violation of existing laws, including the Financial Management Law and articles that oblige the government to submit these accounts to Parliament and compel the latter to discuss and vote on them. She pointed out that this aspect is governed by a specific legal article within the Financial Management Law, in addition to the Federal Board of Supreme Audit Law and other relevant oversight laws. She clarified that the Financial Management Law, the Ministry of Finance Law, and the Federal Board of Supreme Audit Law collectively form the legal framework for regulating the state's financial affairs and final accounts. Final accounts are essential for every budget as they illustrate how funds were spent, where they were allocated, and the extent of adherence to the specified budget items. On another note, MP Al-Ghafoor addressed the topic of the borrowing law, indicating that the objection raised by the Finance Committee is not related to the law itself, but rather to the current project or proposal which requires in-depth study before proceeding. She explained that any state borrowing necessitates a comprehensive financial feasibility study, including identifying the actual need for such borrowing, repayment mechanisms, the volume of financial obligations arising from it, and the general budget's capacity to bear these burdens. Accordingly, the committee requested the preparation of a clear and integrated financial study before making any decision on the matter.
