Yesterday, October 18, local development fund FEICOM and the Audit Chamber of the Supreme Court signed an agreement to improve local governance. According to Philippe Camille Akoa, CEO of FEICOM, the agreement commits the two parties to pool their efforts by sharing information to improve financial governance at local levels.
According to this senior official, "FEICOM, which provides resources to decentralized local authorities through transfers and project financing, has relevant data and analyses at its disposal." This may enable the Chamber to exercise its power of control over the budgetary discipline of town councils.
"In addition, the mechanism for granting financial assistance could be a lever for raising the bar on compliance with the law. Indeed, this is one of the missions of the Audit Chamber of the Supreme Court, in addition to evaluating the economy, effectiveness, and efficiency in the use of public funds," explains Philippe Camille Akoa.
It should be noted that the Audit Chamber of the Supreme Court has the power to judge the accounts of all public accountants within three months of the close of the financial year. "A supplementary period is granted to accountants to complete the transactions counting for a said fiscal year. This period is two months for State accounts and the accounts of public administrative establishments, and one month for the accounts of decentralized local authorities," according to article 26 of the law of April 21, 2003, on the powers, organization, and operation of the Audit Chamber of the Supreme Court.