Regulatory Alerts1997-12-03
Financial Administration and Audit Act
The Government of Barbados enacted this Act to establish the legal framework for the control, management, and audit of public finances. It mandates that all revenues be paid into the Consolidated Fund and requires the Minister to prepare annual estimates and Appropriation Bills for parliamentary approval before expenditure. The legislation defines the roles of accounting officers, the Director of Finance, and the Auditor-General, while providing mechanisms for surcharging officers for financial irregularities and ensuring transparency through mandatory annual financial statements.
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