Discuss the functions of Public Accounts Committee.

Functions of Public Accounts Committee (PAC): Oversight and Accountability

1. Examination of Public Expenditure: The PAC scrutinizes government expenditures to ensure they align with approved budgets and policies. It reviews audit reports and examines the efficiency, economy, and effectiveness of public spending.

2. Accountability and Transparency: The committee holds government officials accountable for financial decisions. By examining audit reports and seeking explanations, the PAC promotes transparency and ensures that public funds are used judiciously.

3. Report on Audit Findings: PAC reviews the reports of the Comptroller and Auditor General (CAG) and presents its findings to the Parliament. This helps in highlighting financial irregularities, mismanagement, or any deviations from established financial norms.

4. Policy Recommendations: Based on its examination of financial matters, the PAC may make policy recommendations to improve financial management, operational efficiency, and adherence to budgetary allocations.

5. Examination of Government Accounts: PAC examines the annual accounts of the government to ensure accuracy, compliance with accounting principles, and the reliability of financial information presented to the Parliament.

6. Follow-Up on Previous Recommendations: The committee monitors the implementation of its previous recommendations, ensuring that corrective actions are taken in response to identified deficiencies or irregularities.

7. Auditing Procedures and Practices: PAC evaluates auditing procedures and practices, ensuring that the auditing system is robust and capable of providing accurate and reliable information on government finances.

8. Cross-Verification of Financial Data: To ensure the accuracy of financial data, PAC cross-verifies information presented by the government with audit reports and other relevant documents, maintaining the integrity of financial reporting.

9. Enhancing Financial Accountability: Through its activities, the PAC contributes to enhancing financial accountability within the government, fostering a culture of responsible financial management and stewardship of public funds.

10. Public Awareness: By presenting its findings and reports to the Parliament, the PAC contributes to public awareness and understanding of government financial matters. This transparency strengthens democratic oversight and promotes informed public discourse.

The Public Accounts Committee plays a crucial role in upholding financial accountability, ensuring government transparency, and safeguarding the interests of the public by thoroughly examining and evaluating government financial activities.