The Bill for an Act to Repeal the Audit Act of 1956 and Re-Enact the Audit Act of 2014 was today presented at the House of Representatives by Hon. Uche Lilian Ekwunife for second reading.
On presenting the Bill, Hon. Ekwunife while highlighting the importance of the Bill, stated that the Bill when passed into law will strengthen the powers of the Office of the Auditor-General for the Federation, Establish the Audit Service Commission and for other matters related thereto.
The passage of the Bill will not only make the Office to be financially independent but will also grant administrative autonomy to the Office of the Auditor-General for the Federation. They will now have the power to recruit, promote and discipline their staff.
Hon. Ekwunife also explained that the Bill when passed into law will bring Supreme Audit Institution (SAI) of Nigeria to level three. This will empower the Office to Audit projects of the United Nations, UNICEF, UNESCO etc as other Supreme Audit Institutions like Ghana, South Africa etc who are at level three do.
The Bill was unanimously passed by all members. The Deputy Chairman Hon. Emeka Ihedioha who presided over the business of the day referred the Bill to the Committee on Public Accounts and Justice for further action.