i) Functions of Public Accounts Committee (PAC):

1. Scrutinizing Audit Reports:
   The PAC scrutinizes audit reports submitted to Parliament by the Auditor-General and conducts investigations into cases of financial irregularities highlighted in the reports. This function ensures that public funds are used effectively and that any misuse is identified and addressed.
2. Reporting to Parliament:
   The PAC submits a report to Parliament on their findings, indicating the issues discovered and providing recommendations for further action. This report serves as a basis for Parliament to take corrective actions and hold relevant entities accountable.

(1 mark each for two functions = 2 marks)

ii) Functions of Audit Committees:

1. Ensuring Implementation of Recommendations:
   Audit Committees ensure that the head of a covered entity pursues the implementation of any recommendations contained in internal audit reports, Parliament’s decisions on the Auditor-General’s reports, and the Auditor-General’s Management Letters. This function promotes adherence to audit recommendations and strengthens financial controls.
2. Preparing Annual Status Statements:
   Audit Committees ensure that the head of a covered entity prepares an annual statement showing the status of implementation of recommendations contained in various audit reports and Parliament’s decisions. This function ensures continuous monitoring and accountability in the public sector’s financial management.