The Comptroller General's Office announced this Thursday that it will immediately begin the process to launch comprehensive financial audits, after receiving a formal request from the Ministry of Economy and Finance (MEF). According to the statement, the MEF requested a review of all resources transferred to municipalities, community boards, and provincial councils, including allocations, subsidies, and other state funds from July 1, 2024, to the present. In addition to the audits, the MEF requested the comptroller's entity to develop new guidelines, methods, and accounting systems to strengthen public spending control and improve accountability mechanisms in local governments. Backed by its constitutional mandate and the provisions of Law 32 of 1984, the Comptroller's Office assured that these actions will be carried out with 'technical rigor, independence, and total transparency.' The statement emphasizes that the objective is to protect state resources, ensure the traceability of every public balboa, and guarantee that funds destined for communities are used correctly and for the benefit of the citizenry. The institution reiterated its commitment to responsible oversight, the prevention of irregularities, and the strengthening of public trust.
Comptroller to Launch Audits of Public Funds Use at MEF's Request
Panama's Comptroller General has started comprehensive financial audits requested by the Ministry of Economy and Finance to review public funds transferred to local governments and strengthen accountability.