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Companies and public institutes will have semi-annual external audits

Companies in the business sector and public institutes will have biannual external audits, carried out by companies licensed by the Order of Accountants of Angola, to improve transparency in accountability, according to standards released this Wednesday.

: CIPRA
CIPRA  

The standards are contained in diplomas approved, this Wednesday, at a meeting of the Council of Ministers, chaired by the President of the Republic, João Lourenço, and are applicable to institutes and companies in the public business sector.

The objective is to improve transparency processes, quality of accountability "and thus provide more credible information to citizens", said the director of the legal office of the Ministry of Finance, Manuel Freire.

Speaking at the end of the session, the person in charge explained that, in light of the aforementioned diplomas, the external audit of the Angolan public business sector will be carried out twice a year by companies accredited and licensed by the Order of Accountants and Accounting Experts of Angola (OCPCA).

"The frequency of audits, not applicable to all companies, will be carried out essentially for large companies and the perspective is to be carried out in a semi-annual period", Manuel Freire further detailed in statements to the press.

"They must be national companies and duly licensed or authorized by the OCPCA" to carry out this external audit, he stressed.

The Council of Ministers also approved in this session a diploma on the recruitment of personnel in the public service, which, according to the Minister of Public Administration, Labor and Social Security, Teresa Dias, should provide greater transparency and credibility in the admission of employees.

This legal instrument "brings more administrative simplicity and also addresses major concerns about the lack of transparency, corruption and good practices linked to the admission of public servants", argued the government official.

The government also considered a resolution that approves the accession of the Republic of Angola to Convention 155 on Safety and Health at Work.

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