–capacity building for Oil and Gas audits undertaken

AUDITOR- General Deodat Sharma presented his 2022 report to the Speaker of the National Assembly, Manzoor Nadir, on Friday. In this his 19th consecutive annual report submission, Sharma highlighted significant progress in rectifying overpayments, and underscored the crucial importance of enhancing audit capabilities in the emerging oil-and-gas sector.
During the presentation, Auditor-General Sharma expressed his satisfaction with adhering to the statutory deadline for report submission, aligning with the mission statement of “timely reporting of results to the legislature and ultimately the public”.

He noted that the Audit Office’s steadfast commitment to this mission had persisted even during the challenges posed by the COVID-19 pandemic in 2019.
“It gives me great pleasure to present my 19th report as Auditor-General. The presentation of this report marks the 12th consecutive occasion, except for 2019 when the report was presented in December 2020 due to COVID, that the Audit Office has been submitting its report by the statutory deadline of 30th September, following the close of the fiscal year,” the Auditor-General told the Speaker of the National Assembly.

Sharma further reported that substantial efforts had been made to bolster expertise in auditing the oil-and-gas industry, including a workshop on “Auditing the Extractive Industries – Oil and Gas”, attended by Members of Parliament and 23 officers from the audit office.
He emphasised the critical role of the audit office in ensuring transparency and accountability in Guyana’s developing oil sector.

Furthermore, Sharma disclosed a renewed emphasis on enhancing the capacity to audit the emerging oil and gas industry.
He highlighted ongoing training and development programmes for staff, covering performance audits, financial audits, and compliance audits. These programs leverage both local and international training facilitators to provide a comprehensive skill set to audit personnel.

A significant milestone highlighted in Sharma’s presentation was the successful refunding of overpayments, except for Region One and 10, for the first time in the Audit Office’s history.
This achievement, attributed to collaboration with the Finance Secretary, Sukrishnalall Pasha, and the Accountant General, was lauded as a testament to the Audit Office’s growing credibility. Notably, the National Assembly’s Public Accounts Committee (PAC) had raised concerns about overpayments while scrutinizing annual reports in the past.

In terms of audit improvements, Sharma noted a reduction in contract overpayments during the year, building upon the observations made in the 2021 report. The specific findings from the 2022 report, as outlined by the Auditor General, will be made public after its formal presentation to the National Assembly.
Concluding his presentation, Sharma revealed plans to expand audit activities within government ministries and agencies, further underscoring the Audit Office’s commitment to fiscal oversight and accountability in Guyana.