Financial Crime World

Treasury Directorate: The Heart of Government’s Financial Operations

The Treasury Directorate is a crucial component in the world of public finance, responsible for ensuring the efficient management of government finances. Formerly known as the Accountant General’s Department, this entity plays a vital role in overseeing all cash transactions and accounts of the government.

Role of the Accountant General

At the helm of the Treasury Directorate is the Accountant General, who reports to both the Permanent Secretary on administrative matters and the Minister on technical matters. The Accountant General is responsible for various functions, including:

  • Supervising and directing the technical and professional activities of the department
  • Establishing proper systems of accounting in each government department
  • Ensuring the prompt collection of public revenue

Integrity of Internal Control Systems

The Treasury Directorate also plays a key role in ensuring the integrity of internal control systems operating within government departments. To achieve this, the department:

  • Conducts regular inspections
  • Has full access to all relevant documentation, systems, stores, officials, safes, and other information necessary for an inspection

Records Management

Public officers who conduct financial business on behalf of the government are required to produce records of their transactions for inspection or audit purposes when called upon by:

  • The Accountant General
  • Auditor-General
  • Director General of Internal Audit

Failure to do so can result in a breach of financial discipline.

Handing Over of Financial and Accounting Records

The Treasury Directorate emphasizes the importance of proper handing over of financial and accounting records from one public officer to another. This ensures:

  • Continuity in financial operations
  • Transparency in financial operations, particularly during periods of transfer, leave, or when an officer is relieved of their duties

Importance of the Treasury Directorate

As the government continues to implement its financial management reforms, the Treasury Directorate remains a critical component in ensuring the effective and efficient use of public funds. With its responsibilities ranging from cash transactions and accounting to internal control and inspections, this entity plays a vital role in maintaining:

  • Transparency in government finances
  • Accountability in government finances

References:

  • Public Finance Act, 2014
  • Financial Regulations, 2016