Baghdad: In preparation for its inclusion in the House of Representatives sessions, the Parliamentary Finance Committee discusses the draft report on the final accounts law for 2012-2015. The committee held a joint meeting today, Sunday, to discuss the draft law on final accounts for the fiscal years 2012, 2013, 2014, and 2015, in preparation for submitting it to the Council of Representatives for its second reading.

According to National Iraqi News Agency, the committee presented its report outlining key observations regarding the draft law on final accounts, the mechanism for its inclusion on the Council’s agenda, and the reasons for the delay in preparing the final accounts. The draft law aims to activate the provisions of Article 23 of the Council of Representatives and its Formations Law No. 13 of 2018, concerning the final accounts and their ratification. It also focuses on performance indicators in budget implementation during the aforementioned fiscal years, with an emphasis on government performance efficiency and the ability of spending units to implement investment projects and programs, as well as the volume of estimated and actual revenues and expenditures.

The committee emphasized the necessity of hosting the Federal Board of Supreme Audit and relevant authorities, in addition to discussing the legal opinion issued by the Board in accordance with the Financial Management Law. A study and analysis of the most important accounts were conducted, and comparative tables of estimated and actual revenues during those years were prepared. This effort aims to assess the results and reinforce the positive aspects of the process for approving the final accounts, based on the provisions of the constitution.