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Fiji receives auditing assistance from New Zealand

Xinhua, June 29, 2015 Adjust font size:

Fiji received a 620,000 Fiji dollars (295,600 U.S. dollars) funding from New Zealand on Monday for a new automated audit management system that will improve the Pacific island country's auditing process, the Fijian government said.

Filimone Waqabaca, Fiji's Ministry of Finance permanent secretary and Mark Ramsden, New Zealand's high commissioner to Fiji signed a grant agreement under which New Zealand will fund the purchasing, set-up and maintenance of an audit management software designed to increase the efficiency and effectiveness of internal audits undertaken by Fiji's Ministry of Finance.

The new computer-based software will streamline Fiji's auditing processes and bring it in line with international standards, Waqabaca said at the signing in Suva.

"The software is not only beneficial to our ministry but to the whole country in terms of faster auditing processes. The current system used is partly manual. However, the new software will be fully automated and will be a handy tool for internal auditing with greater volume and speed," Waqabaca said, adding that Fiji is "grateful for the support from the New Zealand government."

The grant will be used for the purchase of specialized audit software, upgrade associated hardware and support the salaries of two new technical staff to help implement the system over the next two years, according to Ramsden.

"We anticipate the new internal audit system will ultimately contribute to better control of public funds and resources and improve governance and risk management across the whole of (the Fijian) government," Ramsden said.

Fiji's Ministry of Finance will begin relevant preparatory work in August, said Waqabaca. Endi