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Angola: Companies and Public Institutes to Have Biannual External Audits

Angola: Companies and Public Institutes to Have Biannual External Audits

Angolan companies in the business sector and public institutes will have six-monthly external audits carried out by companies licensed by the country’s Order of Accountants, in order to improve transparency in the rendering of accounts, according to rules released today, 28 February.

The rules are set out in legislation approved on Wednesday at a meeting of the Council of Ministers, chaired by the Angolan President, João Lourenço, and are applicable to institutes and companies in the Angolan public business sector.

The aim is to improve transparency processes and the quality of accountability “and thus provide more credible information to citizens,” said the director of the Ministry of Finance’s legal office, Manuel Freire.

Speaking at the end of the session, he explained that, in the light of the aforementioned legislation, the external audit of Angola’s public business sector will be carried out twice a year by companies accredited and licensed by the Angolan Order of Accountants (OCPCA).

“The frequency of the audits, which is not applicable to all companies, will essentially be carried out on large companies every six months,” Manuel Freire also said in statements to the press, stressing that “it must be national companies that are duly licensed or authorised by the OCPCA” to carry out this external audit.

The Council of Ministers also approved a law on the recruitment of staff in the civil service, which, according to the Minister of Public Administration, Labour and Social Security, Teresa Dias, should bring greater transparency and credibility to the hiring of civil servants.

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This legal instrument “brings more administrative simplicity and also addresses the major concerns about the lack of transparency, corruption and good practices linked to the hiring of civil servants,” she argued.

The government also considered a resolution approving Angola’s accession to Convention 155 on Safety and Health at Work.

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