Govt Introduces Audit Committees to Strengthen Fin...

Govt Introduces Audit Committees to Strengthen Financial Oversight

Oscar J. Jeke

Zim Now Reporter

Government has introduced ministry-based audit committees to enhance governance and financial accountability within central government ministries.

The new policy framework, presented by Minister of Finance, Economic Development, and Investment Promotion, Professor Mthuli Ncube, mandates each ministry to establish an audit committee. The committee will be chaired by the respective minister and comprise the deputy minister, five non-executive audit committee members, the accounting officer, and the head of finance.

"The introduction of these committees is a step towards improving governance, transparency, and accountability in ministries," said Professor Ncube.

Under the new structure, the audit committees will report directly to the ministry board. The Minister of Finance will be responsible for appointing audit committee members, with four nominated by the Secretary to the Treasury.

The Office of the President and Cabinet will appoint the Audit Committee for the Treasury.

Additionally, each ministry's accounting officer will nominate one retired technical member to the committee, while the ministry's legal department will serve as its secretariat.