He said the Bill is the second phase of the decongestion process of the former Ministry of Finance which will coincide with the political decentralization and establishment of county treasuries at which stage financial management would be devolved to the counties.

Rep. Karfiah, in a communication to Speaker J. Alexander Tyler read in Session Thursday, stressed that with the establishment of the Liberia Revenue Authority (LRA) and the Internal Audit Authority (IAA), the need to establish the public accounts office cannot be over emphasized.

The Liberia News Agency quotes the Representative as saying that when enacted, the responsibilities of the office will include the execution of the fiscal budget, among other functions.

He noted that the rapid changes in global accountability and transparency in the management of public resources for most emerging economies have developed the ministries of finance into various components to stimulate economic growth and development.

After the communication was read, it was forwarded to the Joint Committees on Public Accounts and Expenditure as well as Judiciary with the mandate to report to Plenary in two weeks.
LINA HVW/GDJ/PTK