Last week, we ended our final article on public financial management in the post-Independence. We concluded that the years 1968-1981 was an unfortunate period, characterized by a marked decline and deterioration so much so that by the end of 1981 public accountability was brought to a standstill. The Hoyte Administration had made a genuine effort to retrieve the situation, and some progress was made. However, it was in the post-1992 period that saw: (a) the restoration of public accountability to some semblance of normalcy with the resumption of annual financial reporting and auditing of the public accounts with effect from 1992; and (b) the reactivation of the Public Accounts Committee.
The creation of the Guyana Revenue Authority in 2000, and the passing of the Integrity Commission Act 1997, the Public Procurement Act 2003 and the FMA Act 2003, should be viewed in a positive light. However, the Commission has not been functioning effectively since 2006, raising