Financial Crime World

Antigua and Barbuda: Compliance vs Audit in a Constitutional Framework

The Supreme Audit Institution of Antigua and Barbuda has been established to ensure accountability and transparency in the management of the country’s finances and operations. This landmark move is mandated by the Constitution to carry out audits and reports on the public accounts of Antigua and Barbuda.

Background

The Office of the Director of Audit, headed by Dean Evanson, has an annual budget of XCD $1,080,263 for 2021. The institution’s primary responsibility is to assist Parliament in holding the government accountable for its financial management. This includes ensuring that all funds allocated by Parliament are used for the intended purposes and that expenditures comply with relevant authorities.

Responsibilities

  • Conduct at least one annual audit and reporting on the public accounts, as well as those of government officers, authorities, and courts in Antigua and Barbuda.
  • Audit the financial statements of all businesses owned or managed by the Government.
  • Perform other duties related to government accounts, including those of authorities, bodies, and enterprises created by law for public purposes.

Independence

Section 97 of the Constitution establishes the Director of Audit’s independence, stating that he is not subject to direction or control from any other person or authority when performing his duties.

Appointment Process

The appointment process for the Director of Audit is outlined in the Constitution. The Prime Minister must approve the appointment, which is recommended by the Governor-General acting on the advice of the Public Service Commission after consulting with the Prime Minister.

Enhanced Transparency and Accountability

This constitutional framework is expected to enhance transparency, accountability, and good governance in Antigua and Barbuda. By establishing an independent Supreme Audit Institution, the country is taking a significant step towards ensuring that public funds are managed efficiently and effectively.

Conclusion

The establishment of the Supreme Audit Institution of Antigua and Barbuda is a landmark move towards promoting accountability and transparency in the management of the country’s finances and operations. With its independent status and broad responsibilities, the institution is well-positioned to play a crucial role in ensuring good governance and public trust.