Somaliland Minister of Finance Dr. Sa’ad Ali Shire, who addressed the House of Representatives, has submitted a bill seeking to amend the General Revenue Act and the Public Financial Management Act. As he mentioned in a speech to the members of the House of Representatives of Somaliland, reasons for the Change are as follows:
- Errors and omissions,
- Incompleteness and Drafts, especially in the sides of the accountability, transparency, and transparency of financial management and revenue collection of the Government.
Benefits of Amending These Rules:
- Promoting accountability, transparency, and transparency in the management of public finances and revenue.
- It shall enable the House of Representatives to carry out its duties, supervision and accountability in a comprehensive manner, and shall provide the House of Representatives with a comprehensive report on the management and misappropriation of public funds;
- Increasing the executive powers and accountability of the Public Revenue Authority.
- The establishment of internal audits by all the MDAs (Ministries, Departments and Agencies) of the country.
- Strengthen the role of the public in the preparation of the budget.
- Creating a Treasury Single Account.