published the text of the Office of Financial Supervision Act voted by the parliament today

Agency [where] published the text of the Office of Financial Supervision Act voted by the parliament today

Tuesday, September 20 / September 2011 14:43

[Baghdad - where]

Published agency [where] the text of the Office of Financial Supervision Act voted by the House of Representatives on Tuesday after hearing postponed for several times.



In the name of God the Merciful

Name of the people
Presidency
Based on Laid down the House of Representatives and endorsed by the President of the Republic and based on the provisions of item (I) of Article (61) and item (iii) of Article (73) of the Constitution, issued the following law: -



No. () for the year 2011
Law Office of Financial Supervision

Chapter First
Definition and objectives



Article (1) The following terms, for the purposes of this Act shall have the meanings About.
First Division - - Office of Financial Supervision.
II - President of the Board - Chairman Office of Financial Supervision.
Third - the Council - Council of Financial Supervision.



Article (2) is a financial violation for the purposes of this law
First - breach Laws and regulations and instructions.
Second - neglect or negligence leading to the loss or Waste of public money or damage to the national economy.
Third - to refrain from providing Records, documents and data necessary for the work of oversight and scrutiny to be easily obtainable or not Provided to the Bureau or the entities that conferred.
IV - Failure or delay in a reply Reports and correspondence of the Bureau and his objections and observations within the period specified.



Article (3) The Court Control: -
A - public money wherever found And audited.
B - the work of the entities subject to supervision under Article ( of this Act.
The court control over the acts of the entities subject to its oversight and scrutiny of all Parts of Iraq under the provisions of this Law and other laws.



Article (4)
SAI seeks to achieve the following objectives: -
First - to maintain The waste of public money or waste or abuse, and ensure efficient use.
Secondly - the development of efficient performance of the entities subject to censorship.
III - Contribute Independence of the economy and support the growth and stability .
IV - Dissemination of systems of accounting and auditing Based on domestic and international standards and improve the rules and standards applicable On the administration and accounting on an ongoing basis.
Fifth - the development of accounting and auditing And accounting systems and performance upgrades for the accounting and regulatory bodies are subject to censorship.



Chapter II
Independence of the Court and its functions and powers



Article (5) Bureau independent body financially and administratively it is a moral and personal Top financial regulator - is linked to the House of Representatives represented by President of the Board or his nominee.



Article (6)
The Court the following tasks: -
First - the monitoring and auditing Accounts and activities of bodies subject to control and verify the integrity of the disposition of public funds And effective implementation of laws, regulations and instructions that include: -
A - Inspection and Audit Public expenditure transactions to ensure their safety and they do not exceed the funds appropriated in The budget and the use of public funds for its intended purpose and not for waste or waste Or misconduct, and the calendar Mrdoadtha.
B - check and check transactions guess and check collection Public resources to ensure appropriate safety measures adopted and applied.
C - Express Opinion on the lists, financial statements and reports on the results of the work and conditions Financial points of the controlled and a statement whether the organization in accordance with legal requirements And GAAP and reflect the reality of the financial position and result of the activity and flow Cash.
II - control of the points of performance evaluation under the supervision of the Board.
Third - Provide technical assistance in the areas of accounting, regulatory, administrative and Related regulatory and technical matters.
IV - Evaluation of plans and financial policies And macro-economic assessments for achieving the goals set for the state and abide by them.
V - to check the things that ask the House to hold checking out.



Article (7)
SAI is a comprehensive annual plan for the completion of the regulatory tasks Assigned to it in accordance with the provisions of this law include the following: -
First - oversight functions And evaluating performance.
Secondly - areas of cooperation with the Integrity Commission and the offices of inspectors Public officials.
Third - the topics and issues considered by the Bureau to verify necessary Transparency and the level of the government's performance of its duties.



Article (
Subject to control and audit court the following entities: -
First - the institutions and government departments and the public sector or any other party acting in the collection of public funds or Spending or planning or financing or banking or commerce or the production of objects or goods production And services.
Second - any party or its law provides for the subject to the supervision and audit Bureau.



Article (9)
Exception of the judiciary with regard to its terms of reference of judicial Only a submission to the supervision and audit of the Board.



Article (10)
The audit of the Bureau check and check transactions and actions Of public revenues and expenditures and financial commitments or collection of all the planning or tunnels And types of assets to verify the validity of assessment and recording in the books and records of order And ensure its existence and its ownership, efficiency and safety of circulation, and sustained use and conservation The documents, contracts and records and accounting books, budgets and financial statements And resolutions, documents and administrative matters related to the oversight functions.



Article (11)
Performed acts of control and audit in accordance with the rules and And domestic and international standards adopted and the ways and means generally accepted.



Article (12)
First: - lead the work of oversight and scrutiny of third party sites Controlled or at the headquarters of the Board or the Board circuits if you can not work or The impossibility of continuing in the location of those bodies and the authorities concerned to create a place For the work of the staff of the Bureau and provide records and documents and any data or information necessary for the exercise Functions.
Second: - If it fails under the control of the Audit Court and to provide Records and data necessary for the work of oversight and scrutiny At the poems and the Office of Court The Inspector General to be submitted within twenty days and the reasons for abstinence.
Third: - If the Court is not convinced of the reasons to refrain from providing records poems he Council of Ministers or Integrity Commission to investigate this and to compel the recalcitrant to provide records And data required in the case of continued abstinence Aljhhan the Court approached the Council MPs.



Article (13) of the Board of the following powers: -
First: - access to all Documents, records and transactions, orders and decisions related to the oversight functions The audit has to hold inventory or supervision of the field and get
All the explanations Information and responses from the technical and administrative levels involved in the necessary limits Maher To perform its functions.
Second: - audit classified programs and expenditures related to national security The President of the Court to authorize his representative to check the numbers and reports on it.
Third: - conducting inspections on the basis of the decision of the Council for grants and subsidies , Loans, facilities, privileges, investments and verification of being an employee for the purposes for which Provided for.



Article (14)
Office of the discovery violation to request the Inspector General or The integrity of the investigation and Othaz necessary and remove the violation and its effects.



Article (15)
The President of the Board may request from the Minister or the President of the Controlled
First: - to refer the employee responsible for the offense to the investigation and may Asked to withdraw his hand.
Second: - file a civil lawsuit with the state establishes the rights of all Financial irregularities.
Third: - Include the employee damages incurred by the subject Controlled.



Article (16)
SAI is committed to news of the prosecution or the integrity or Investigative bodies concerned, each according to its competence for each violation if the financial discovered Constituted a crime.



Article (17)
SAI is committed to poetry Council of Ministers any dispute with Entities subject to its oversight and auditing for a decision in the case of his inability to resolve it, he Notice the House of Representatives.



Article (18)
The parties subject to the control of the Bureau to report the violations Located where the financial case without prejudice to the discovery must be taken by those actors Appropriate action and it poems that court proceedings.



Chapter III / formations Court



Article (19)
Court consists of the Board and President of the Board and Vice-President The Board circuits.



Article (20)
First: - The Council is composed of the President of the Board President and Vice-President The Bureau and general managers of the Chambers of the Bureau members.
Second: - The Council shall meet once One month, at least at the invitation of its President or one third of its members shall constitute a quorum and what At least two-thirds of its members.
Third: - Council takes its decisions by majority vote of members Present and when a tie side, who voted with the president and the minority are recorded Violation.
Fourth: - The Council has a Secretariat headed by a Director the maintenance of Record attesting to the minutes of meetings and discussions of the Council and its decisions.
Fifth: - President Court invite the President of any entity subject to the supervision and audit of the Board or his representative to attend the Council meetings in matters relating to that entity.



Article (21)
The Council shall have the following: -
First: - Adoption of action plans in Bureau.
Second: - The development and adoption of rules and regulations that work in court and methods of implementation.
Third: - determination of the issues required by the auditing and oversight functions and to Provide the necessary means to them.
Fourth: - determining the scope of the work of the Board circuits and rules Organized according to the general guidance of the State.
Fifth: - preparation and adoption of the draft budget According to the Bureau's annual general guidance of the state and sent to the Ministry of Finance for consolidation Within the general budget of the state.
VI: - Adoption of the general framework of the reports of the Board.
Seventh: - discuss the organization of practical courses for the staff and other Court or For workers in the private sector and the Board decided by giving them bonuses.
VIII - Adoption Controls use the services of SAI auditors from the private sector for control And check for any of the entities under their control and audit that the SAI
Does not exceed Work assigned by the percentage (5%) from the scope of audit work in accordance with the plan of the Bureau Annual.



Article (22)
First - a - a House committee composed of 9 members of the Integrity Commission and the legal and financial to choose 3 candidates for the post of President of the Board.
B - the House of Representatives approved on one of the three candidates, the absolute majority of Its members.
II - President of the Board shall appoint a minister for five years.
Third - to the powers of the Chief of Staff and Minister of Finance with respect to the affairs of the Bureau and its owners and its budget.



Article (23) Any candidate for the post of President of the Board
First - to be Iraqis and not convicted of a felony is a political or misdemeanor involving moral turpitude.
Second - that not Be covered by the procedures of accountability and justice.
Third - obtained a graduate degree in Relevant terms of reference direct the functions of the Bureau and has actual practice in the field of competence Within the government or the public sector for at least fifteen years.
Fourth - that is the highest Standards of ethical behavior and integrity and honesty.
V - that may not be the head of the SAI For two consecutive or non-consecutive terms.
VI - to be independent and does not belong to any party Or political party.



Article (24)
House of Representatives questioned the Chief of Staff in accordance with procedures Questioning ministers stipulated in the constitution has exempted from his post as provided It.



Article (25)
Associated with the President of the SAI
First - Office of the President of the Board - headed by a Director and holds at least a university degree with experience and efficiency.
II - Department of Engineering, studies, headed by General Manager holds a Assume the high technical and professional tasks required by the acts of censorship and the task of finding In the means of the development of audit work and increase the effectiveness and raise the level of performance and preparation of the plan Annual Board and take the actions required to implement and contribute to the development of standards And indicators for evaluating overall performance.
III - Legal Department headed by Director-General holds At least a university degree in law, the provision of legal advice and study Laws, regulations, instructions, and to express an opinion on draft laws and regulations And instructions before the Court and represent the agency before the courts Court granted the President Bureau.
IV - Administrative and Financial Department
Headed by a director holds at least A university degree shall create and provide administrative and financial services to the Cabinet.



Article (26)
Have degree two vice President of the Board and appointed Deputy Minister for Four years, renewable once, to have their actual service of not less than 10 Years in the bureau the same conditions and manner of appointment of the Chairman of the Board.



Article (27)
First - the eight departments of the Office of Audit and eight central Audit departments in the governorates, each headed by a Director Department of - and concerned with control And audit bodies subject to control distributed within those departments as determined by the Council According to business requirements.
II - regulate the scope of work and a link to the chambers provided for in First item of this Article by a decision of the Council.
III - The person to be appointed as The audit department has to have service in the job-related control functions for at least For 15 years, including at least (5) years of service in the Cabinet and have obtained at least A degree in accountancy.



Chapter IV / General Provisions

Article (28)
First A - The Council Report annually to Parliament through the (120) days from the end of each year, including aspects Created by the basic results of the implementation of the annual plan of the Court, including opinions The observations and proposals concerning the conditions of financial, administrative, economic and evaluation The effectiveness and adequacy of government actions necessary to ensure efficiency and transparency in the collection of Revenue and expenditure of public funds .
B - of the Council to report to the House of Representatives Each is important in monitoring and evaluating the performance of financial, administrative and economic and has published Deems necessary approval of the Council of Representatives.
II - The Council shall publish a list of reports Regulatory and audit completed and provided to media mandate of a competent authority copies of building Request, with the exception of reporting against national security may not be published without the approval of the Board of House of Representatives.
Third: - President of the Board for approval of the Council to publish any of the reports of the SAI in And the media.
Fourth: - The Court in addition to his duties overseeing the collections of other Financial control in the regions and in order to achieve this include: -
A - Review Control reports issued by the bureaucracy and standardization in Tgarih level Federal.
B - coordinating the work of the Federal Audit Court with oversight in the collections of Regions and according to mechanisms dependent by the Board of Control provided for in this Law.
C - the coordination mechanisms of the collections of financial control in the regions between And according to the norms approved by the Board of Audit.
Fifth: - that the bureau shall conduct Administrative investigation in violation of financial discovered him directly in the entities that are not There is the Office of the Inspector General, or if the failure of the Inspector General's office in the concerned Complete the investigation within 90 days from the date of notice from the Office of the Inspector General shall be deposited in the This case all documents, including all the priorities the priorities of the investigation conducted by the constructive Request.
VI: -
A - The Council discussed and approved the observations and recommendations and proposals The views expressed in the reports issued by the Court has the authority or any of its members Court staff are part of this jurisdiction.
B - Adoption of the instructions or regulations are met Audit fees from entities subject to the control of the Bureau of the sector is Government.
C - the Council's adoption of controls and mechanisms of coordination between the Office of Financial Supervision And the offices of the federal financial control in the regions.
D - the Council's authorization of some functions And powers to the President of the Board.



Article (29)
Involve the staff of the Council of State and experts in the implementation of tasks Court has competence and give them rewards or charges established by the.



Article (30)
Court gives workers the following provisions: -
First - rate control allocation (50%) of salary or wage.
Second - the seriousness of allocations of 50% of the salary or wage.
Allocation and transfer of risks and special tasks attributed (30%) of salary or Pay for any of them in accordance with instructions issued by the Board.



Article (31)
President of the Board to grant submitted no later than six months for the Court Officer In each class for the purposes of the premium, promotion, who is characterized by high efficiency, or make efforts Exceptional.



Article (32)
Chief of Staff - a year - the pay of regular holidays Accumulated to the staff of the collection that accumulate vacations for more than 180 days for more than That period.



Article (33)
- Has no right to the Chief of Staff or Deputy Heads or services or Organizers of control and auditing practice of any profession or other work, even if that off- Office hours except
Literature, research, lectures, translation and the membership Scientific councils, professional organizations and civil society.



Article (34)
First - the disposal of end of service gratuity to an employee referred to the collection that Retirement that may not be referred to the pension based on his request before reaching the age Legal or health reasons reward equivalent to the salaries of the last six months.
Second - is the heirs of the deceased employee Diwan-service gratuity provided for in item First of this Article.



Article (35)
Grant allocations provided for in this Law, Court Officer In addition to the provisions set forth in the applicable laws.

Chapter / V Final Provisions



Article (36)
The Council shall have an internal system determines the structure of the Board circuits The duties and powers shall be published in the Official Gazette.



Article (37)
Employees of the Bureau shall be subject to the provisions of the legislation in force except as Has been provided for in this particular law.



Article (38)
The President of the Court with the consent of the Council instructions to facilitate the implementation of The provisions of this law.



Article (39)
The Law Office of Financial Supervision number (6) for the year 1990 And its amendments and the work continues with the instructions issued pursuant to the issuance of instructions when replacing them.



Article (40)
Any provision contrary to its provisions and the provisions of this law.



Article (41)
This law shall be the date of its publication in the Official Gazette.




Reasons
To organize the work of Supreme Audit and the statement of Functions and powers in order to raise the level of control over public money and regulate the relationship with And other regulatory agencies pursuant to the provisions of Article (103) first item of the Constitution proceeded This law.






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