Two more Audit Committee launched

Two more Audit Committee launched

Pacific Institution of Leadership and Governance (PILAG) and PNG Sports Foundation were the latest inclusion to officially launch its Audit Committee.
This bring the total to 52 Audit Committee to the list of Government agency and statutory bodies.
The PILAG Audit Committee was launched by Deputy Secretary Dominic Ira, Deputy Auditor General Lemeki Ila and CEO of PILAG Michael Barobe.
The institution CEO said the institution has no audit section and audit committee since its inception in 1963.
“The launching of the audit committee was timely as the institution has recently created an internal audit section,” he said.
He said with greater partnership with many organisations, it is important to have an internal audit committee for transparency, accountability and governance requirements.
Deputy Secretary Dominic Ira whilst commending PILAG said the establishment of the audit committee is a requirement under the Public Finance Management Act.
He adds the Department will support the management in complying with financial reports including system audits and report processes.
Meanwhile, Deputy Secretary Samuel Penias officiate the launching of PNGSF along with Deputy Auditor General Lemeki Ila and Foundation Acting CEO Micah James.