OPA Audits

Pursuant to 40 PNC § 223

(b) the Public Auditor shall from time to time make such other audits of the Republic’s agencies, activities, contracts, or grants as are possible within the budget provided him and as he deems to be in the public interest and consistent with this chapter.

(c)  Upon request of an agency of the Republic the Public Auditor shall provide its opinion as to whether or not certain practices are in accord with generally accepted accounting principles.

(e)  In accordance with chapter 22 of Title 40 of the Palau National Code, the Public Auditor shall transmit to the President and to the presiding officer of each house of the Olbiil Era Kelulau a state financial audit report annually for each state governor and state legislature.  The audit shall cover the receipt, possession, and disbursement of public funds including all liabilities, receivables, and accruals of any agency, all taxes, fees, receipts, and other revenues of any state governor or legislature, all other financial transactions involving any state governor or legislature, and any financial statement issued or prepared by [a] state governor or legislature.  Personal service contracts and prime contracts with employees of any state governor or legislature shall be audited as part of the regular operations and activities of the state governor or legislature.  Beginning in 2014, each state shall submit prior year audits no later than the end of the third quarter of the next fiscal year.

(f)  Within ninety (90) days of the effective date of this Act, the Public Auditor shall promulgate rules of compliance by which all state legislatures and governors shall be held publicly accountable for expenditure of public funds. (Download Regulations)

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