Rwanda, known for its dedication to fiscal responsibility, has achieved a significant milestone in its financial management practices.
Auditor General Kamuhire Alexis, in the latest annual audit report presentation to Parliament yesterday, announced a remarkable reduction in unlawful expenditure.
This decline, amounting to 60% compared to the previous year, highlights the effectiveness of internal control measures implemented within government entities.
“This significant reduction in unlawful expenditure is a testament to the effectiveness of our ongoing efforts to bolster internal controls,” the Auditor General Alexis Kamuhire told Parliament.
The report, meticulously examining government expenditure for the fiscal year ending June 30, 2023, underscores the critical importance of Chief Budget Managers instituting robust measures to prevent financial irregularities and safeguard public funds effectively.
The decrease in unlawful expenditure, from Frw 6.45 billion to Frw 2.57 billion, reflects a concerted effort to enhance transparency and accountability within government institutions, the AG said.
This achievement is a testament to Rwanda’s commitment to fiscal reform and governance enhancement, he added.
Meanwhile, the annual audit report highlights other positive developments in fiscal oversight.
The proportion of audited entities receiving unqualified opinions in financial audits surged to an impressive 92%, indicating a substantial improvement from 68% in the previous year.
Compliance with laws and regulations pertaining to public spending and value for money realization also witnessed notable enhancements.
In addition to these improvements, the report underscores the proactive approach adopted during this year’s audits.
Potential financial losses amounting to Frw 6.92 billion were identified, demonstrating Rwanda’s commitment to early detection and mitigation of financial irregularities.
AG Kamuhire reaffirmed his unwavering commitment to conducting impactful audits of government institutions. “We remain steadfast in our mission to ensure that public resources are allocated in alignment with national priorities and the well-being of Rwandan citizens.”
This achievement not only highlights Rwanda’s progress in fiscal responsibility but also reinforces trust and confidence among citizens and stakeholders.
The commitment to transparency, accountability, and fiscal prudence continues to serve as a cornerstone of Rwanda’s governance framework, paving the way for sustainable development and prosperity.
The report will be available on AG’s website before close of business, today.
