The General Comptroller's Office has announced the launch of financial audits on all resources transferred to municipalities, community boards, and provincial councils, including allocations, subsidies, and other state funds from July 1, 2024, to the present. "Our purpose is clear: to protect state resources, ensure the traceability of every public balboa, and guarantee that funds intended for communities are used correctly and for the benefit of the citizenry," the Comptroller's Office stated in its release. The Comptroller's response follows a request from the Ministry of Economy and Finance (MEF) made in the wake of a scandal over multimillion-dollar transfers to certain municipalities. The institution indicated that it will proceed with these actions with technical rigor, independence, and total transparency. The Comptroller's Office noted that the Ministry of Economy and Finance (MEF) requested the development of new guidelines, methods, and accounting systems to strengthen public expenditure control and improve accountability mechanisms in local governments.
Panama's Comptroller's Office Launches Municipal Financial Audits
Panama's Comptroller's Office is auditing all funds transferred to municipalities following a multimillion-dollar transfer scandal, aiming to ensure transparency and proper use of public resources.
