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Bank of Mozambique to Be Audited by the Administrative Court

Bank of Mozambique to Be Audited by the Administrative Court

The Bank of Mozambique and other public companies will now be audited by the Administrative Court, as a result of the revision, on Friday morning, of the law that approves the organisation, functioning and procedures of the public accounts section of the Administrative Court.

According to the government, this law, which is being revised eight years later, restructures the mechanisms for overseeing and managing public accounts, allowing for greater control of the public purse.

The law now specifies the institutions that must be verified or audited by the TA, such as the Assembly of the Republic, the Constitutional Council, the courts, decentralised provincial, district and local authority governance bodies, among others.

However, the law did not mention the Bank of Mozambique or public companies. It took the Renamo and MDM parties condemning and “threatening” to boycott the approval of the instrument for the government, through the Minister of Justice, Constitutional and Religious Affairs, Helena Kida, to back down and, after a consultation meeting, approve its inclusion.

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