Expect in an Audit
The Audit Office has the legal responsibility to
audit the financial statements of all government
entities. This is specified in the Audit Act of 2004.
This means that your Ministry or Organization will
be audited by the Audit Office.
Types of audit conducted
- proper accounting records;
- correctly prepared financial statements;
- internal management systems that ensure the proper assessment,
collection and allocation of revenues and make sure that stores and
other public property are securely controlled; and
- used its monies for the purposes intended.
to determine whether your organization is applying its resources and
carrying out its activities economically, efficiently and effectively
and with due regard to ensuring effective internal management control.
in which auditing procedures are used to investigate whether there
has been any illegal, unauthorized or improper use of an organization's
funds or assets and to determine who is responsible for it.
Responsibilities of your Organization
It is in everyone's interest for your audit to be conducted accurately
and efficiently. To ensure this, the Audit Act specifies that your
organization does the following:
Benefits of Audits to your organization:
Have complete and accurate financial statements prepared;
Complies with all applicable laws and regulations;
Complies with any other contractual obligations it may have;
Provides the auditor with easy access to documents
relating to the audit;
Provides any information or explanation of information
related to the audit that may be requested; and
Provides suitable and secure office space for the auditors
to work in.
What happens to the audited information??
Providing an objective assessment of the financial status of
Pinpointing deviations in management standards and expectations;
Identifying opportunities and developing solutions for improving
the efficiency and effectiveness of operations;
Recommending improvements to internal management systems
and control; and
Assisting in the identification of irregularities or fraud.
To enable the Auditor General to obtain information relevant to an
audit, the Audit Act authorizes the Auditor General to do the following:
- Upon the conclusion of an audit, the Auditor General will present you
with a draft report that will include findings and recommendations.
You are required to submit a written response to this draft report within
30 days of its receipt.
- Every year, the Auditor General produces a report that contains the
results of audits conducted on government entities.
- This report is presented to the Speaker of the National Assembly who
then lays it before the National Assembly.
- The report is then examined by the Public Accounts Committee who
then presents a report on their findings to the National Assembly.
- A Treasury Memorandum is then issued by the Government of
Guyana, highlighting actions taken in relation to the Public Accounts
Under the Audit Act, a person commits an offence if he or she:
enter into and remain on your
carry out a search for documents and examine or make
copies of them;
require a person to give evidence, either orally or in writing.
Intentionally prevents the Auditor General or an
in the discharge of official duties.
Does not comply with any lawful requirement of the Auditor General.
Provides misleading information to the Auditor General or an officer
authorized by him.
Misrepresents his or her level of authority
If convicted of an offence, a person is liable on summary conviction to
a fine not to exceed two hundred thousand Guyana dollars (G$200,000)
and to imprisonment to a term not to exceed five (5) years.
Also, an entity or body of persons is liable, on summary conviction, to a
fine not to exceed one million Guyana dollars (G$1,000,000).
Help the Audit Office to help you by co-operating with your auditors.
- 2011 Audit Office of Guyana