This Act may be cited as the National Audit Act. It repeals and supersedes Audit Law, (Law No. 5/98).
Article 2: Purpose of the Act
The purpose of the Act is: (a)To establish the National Audit Office as an independent corporate body; (b)To ensure that the State has an Auditor General with the necessary functions, immunities, and independence; (c)To provide for the independent audit of the public sector and related entities; (d)To emphasize the Public Accounts Committee’s oversight role; and (e)To Strengethen for the continuity of the existing Audit Office.
The Ministry of Finance Development derives its mandate from the Constitution of Somaliland, which provides for proper budgetary and expenditure management of the government financial resources. It also has a responsibility for ensuring that systems are in place for efficient monitoring and reporting of all Government’s transactions.