The Federal Court of Auditors of Lamoni is the supreme federal authority for federal audit matters in Lamoni. There are equivalent bodies at state level. The status of the FCA (as it is unofficially known), its members and its essential functions are guaranteed by the Lamonian Constitution, and regulated by other legislation. It is an independent judicial body, with around 100,000 employees.
The FCA examines the financial management of the federal government, its various property funds and state-owned companies. Its audit mandate also covers social security institutions and the activities of the federal government in private-law enterprises of which it is a shareholder. This includes areas such as defence, roadworks, taxation, and the federal government’s activity as a minority shareholder of the formerly nationalised railways, post, and phone companies.
The FCA makes recommendations on the basis of its audit experience and provides advice to the audited bodies, and to the Federal Government. Its consulting activities have steadily increased and set out significant recommendations for quality improvement, pointing out the potential for savings or increases in revenue.
The FCA reports on its audit findings in management letters which are sent to the audited bodies for comment. In addition the FCA submits an annual report (“Observations”) to both Houses of the Lamonian Congress, as well as to the Lamonian President. The annual report is also used as a basis for Congress when authorizing the Federal Government’s budget. The annual report is presented to the public at a federal press conference. The FCA may at any time submit special reports on matters of major significance to the Federal Government.
The FCA provides advice to the executive and legislative branches by including recommendations for improvement in its management letters and annual reports, as well as by commenting – orally or in writing – on topical issues such as government bills and major procurement projects, or in the course of the annual budget procedure.
frlamoni 