Regulations amended to require candidates to have statements audited

Elections Commission (EC) has amended the General Regulations on Elections such that candidates who contest in elections have to have their financial statements audited by a registered auditor.

As per the General Regulation on Elections, the candidates must submit financial statements that show how one acquired financing for the campaign and how it was spent. It was ECs responsibility to ensure the validity of financial statements. The candidates did not have to get it audited.

EC has amended specific clauses of the General Regulation of Elections developed under the General Act on Elections to include that the financial statement submitted by each candidate must be signed by a licensed auditor registered with the relevant authority of the government.

Other than auditing the financial statements, the auditor should ensure that the candidate has a separate account to deposit the funds obtained for the election and if the candidate or a representative collects the funds.

The amendment further details that the auditor has to check if the candidate acquired and spent funds within the permitted limit.

The regulation, which EC publicised on Sunday, further states that the commission will instruct the relevant authority to take actions against the auditors who do not abide by what has been stipulated in the regulation.