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Al-Kazemi’s advisor identifies the reasons for the failure to approve the final accounts since 2012
Saturday 04 June 2022 12:15 | economic Number of readings: 359
Baghdad / NINA / - The financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified today, Saturday, two main factors that contributed to the failure to approve the final accounts of the state ten years ago.
Saleh told the official agency that "the final account of the state reflects the processes of applying the general budget in accordance with the legal regulations, regulations and financial instructions issued, to show the financial position of the state, because of its collectible rights and its repayable obligations."
He added that "the balance of the final account shows the increase or decrease in the state's assets or assets, which is embodied by the deficit in expenditures or the surplus in revenues during one fiscal year,"
"therefore, the government final account is one of the most important financial statements that the government prepares annually, based on the provisions of Article 34 of the effective Financial Management Law No. 6 of 2019, the amended financial statement, in order to clarify all actual expenses and revenues for the ended financial year and the resulting actual surplus or real deficit.
He pointed out that "the legislative authority was unable to approve the final account after the year 2012 until the present, that is, a decade has passed, and the state's financial position is still unknown in its details.
The end is before the legislative authority, which is the first supervisory authority in the country."
He pointed out that "two main factors contributed to the failure to approve the final accounts on a regular basis for ten years.
The first is the difficulty of settling the accumulated government advances, which amounted to a very high number
and may be equivalent in terms of the amount to the expenses of a full fiscal year or more,
and the lack of supporting documents at a high rate."
He explained that "the second factor is the presence of more than one fiscal year in which there was no law for the general budget, which requires legislation (a current budget), which is closer to the final account, especially for the years 2014-2020."
He stressed that "the oversight task of the House of Representatives in this regard will be a little arduous in following up on the completion of the country's final accounts for the years 2013-2021,
but it will certainly be fruitful." / End 9
Al-Kazemi’s advisor identifies the reasons for the failure to approve the final accounts since 2012
Saturday 04 June 2022 12:15 | economic Number of readings: 359
Baghdad / NINA / - The financial advisor to the Prime Minister, Mazhar Muhammad Salih, identified today, Saturday, two main factors that contributed to the failure to approve the final accounts of the state ten years ago.
Saleh told the official agency that "the final account of the state reflects the processes of applying the general budget in accordance with the legal regulations, regulations and financial instructions issued, to show the financial position of the state, because of its collectible rights and its repayable obligations."
He added that "the balance of the final account shows the increase or decrease in the state's assets or assets, which is embodied by the deficit in expenditures or the surplus in revenues during one fiscal year,"
"therefore, the government final account is one of the most important financial statements that the government prepares annually, based on the provisions of Article 34 of the effective Financial Management Law No. 6 of 2019, the amended financial statement, in order to clarify all actual expenses and revenues for the ended financial year and the resulting actual surplus or real deficit.
He pointed out that "the legislative authority was unable to approve the final account after the year 2012 until the present, that is, a decade has passed, and the state's financial position is still unknown in its details.
The end is before the legislative authority, which is the first supervisory authority in the country."
He pointed out that "two main factors contributed to the failure to approve the final accounts on a regular basis for ten years.
The first is the difficulty of settling the accumulated government advances, which amounted to a very high number
and may be equivalent in terms of the amount to the expenses of a full fiscal year or more,
and the lack of supporting documents at a high rate."
He explained that "the second factor is the presence of more than one fiscal year in which there was no law for the general budget, which requires legislation (a current budget), which is closer to the final account, especially for the years 2014-2020."
He stressed that "the oversight task of the House of Representatives in this regard will be a little arduous in following up on the completion of the country's final accounts for the years 2013-2021,
but it will certainly be fruitful." / End 9
