World Bank and Institute of Internal Auditors collaborate
The government has taken steps to implement a special programme, in collaboration with the World Bank and the Institute of Internal Auditors, to enhance financial discipline and the internal audit process within Sri Lanka’s public institutions.
Accordingly, a discussion regarding the strengthening of public financial discipline and internal auditing is scheduled to be held next Friday between the World Bank’s Head of Operations for Asia and officials from the Sri Lankan government and the Ministry of Finance. This initiative is being carried out through the Ministry of Finance, based on the special instructions and guidance provided by President Anura Kumara Dissanayake in his capacity as the Minister of Finance, Planning, and Economic Development. The primary objective of this programme is to ensure that every rupee allocated for public welfare—whether through the national budget or other financial flows—is utilized to provide highly efficient services to the public by eliminating waste, corruption, fraud, theft, and inefficiency, while also ensuring the maximum effective use of all services and supplies funded by taxpayer money.
The primary objective of this program is to ensure that every cent allocated for public welfare, whether from the national budget or other financial streams, is utilized to provide efficient public services, free from waste, corruption, fraud, theft, and inefficiency. Another key aim is to maximize the productivity and effectiveness of all services and supplies funded by public tax revenue.
As a measure to strengthen this internal audit process, a special programme has been implemented under the leadership of the Ministry of Finance’s Internal Audit Department; this initiative brings together all internal audit officers to equip them with the necessary knowledge, experience, and guidelines.
M.R.G.A.B. Muthukude, Director General of the Management Audit Department at the Ministry of Finance, stated that new regulations and directives aimed at strengthening internal audit functions under the Fiscal Responsibility Management Act have already been drafted and submitted to the Legal Draftsman’s Department for approval.
Source : Daily News
