Iraq Economic News and Points To Ponder Late Sunday Evening 9-20-26
Integrity Calls For The Activation Of Internal Audit And Control In The Implementation Directorates To Protect Public Money
Money and business Economy News – Baghdad The Federal Integrity Commission called for activating the work of auditing and internal control in the implementation directorates to ensure periodic reports on the reality of work in each directorate, which contributes to the preservation of public money and the control of administrative procedures, and reduce the imbalances that may be conducive to the occurrence of corruption cases.
The Authority, in the framework of follow-up of institutional performance; in order to improve it and prevent the fall into the shafts of corruption, worked to form a team from the Department of Prevention; to follow up the reality of work in the Directorate of Implementation of Al-Kadhimiya, where the team monitored a number of observations that included the mechanisms of preservation of executive files and records, procedures for the payment of dues, and the level of digital transformation, as well as the reality of staffing and the service environment provided to the reviewers.
She pointed to the introduction, deterioration and rupture of most of the files and records and not to archive them electronically, which exposes them to damage or the loss of some priorities, and may create an environment for the blackmail of reviewers and the spread of bribery, as well as the limitation of the current electronic procedures to the number of the file, barcodes and the minutes of implementation, stressing the need to work on the comprehensive digital transformation of the work of the Directorate and document the files electronically after its indexing, and the adoption of an electronic mechanism that allows the concerned person or his official agent to see the executive file remotely, to ensure that it is not lost or disappear its priorities, in addition to the use of electronic payment tools.
The Authority, in its report, which sent a copy of it to the Office of the Prime Minister, the General Secretariat of the Council of Ministers and the Ministry of Justice, stressed the need to strengthen the corridors of the Directorate with the guidance boards for the mechanism of completion of the transaction and the required priorities and the amount of the fee; to introduce the reviewers to the procedures in force and ensure the transparency of dealing and speed of completion, as it monitored the lack of clear panels that clarify the mechanism and procedures of the executive dialwork, which leads to confusion of the reviewers and their lack of knowledge of the procedures followed.
The report monitored the existence of a strong momentum for the reviewers in the corridors of the Directorate, and a great difficulty in completing their transactions, as a result of the reality of the building and the small number of employees, as well as the momentum in the Follow-up Division, and the inadequacy of the place to receive the large numbers of reviewers, which may create an environment for the use of bribes, indicating the lack of administrative staff of the judicial outlet, forcing him to carry out archiving work and enter and audit information, and cause momentum and delay in the completion of transactions, and push citizens to review the Directorate more than once.
He also revealed that there is a delay in sending dues to some ministries for more than two months, despite being deducted from employees on a monthly basis, especially the dues (the third Karkh and Tarmiya education), which causes momentum in the directorate, as a result of citizens’ reviews to inquire about them, as well as the delay in the payment of benefits for child expenses by ministries for more than two months, stressing the need for ministries to send financial dues to their employees within the specified dates.
She pointed out that the fifth month's dues have not been paid to the Ministry of Defense until the date of the preparation of the report, which exceeds the number of its files (1000) due to the procedures followed in the Directorate, represented by (analysis, cutting, registration, deportation, downloading and auditing), in addition to the small number of specialized employees, calling for addressing the reasons for the delay and strengthening the staff to ensure the speedy completion of those procedures, and in the side of the procedures followed on the debtors, the report monitored the weakness of coordination between the divisions of the Directorate with regard to the audit of debtors' files and the assurance of payment
https://www.economy-news.net/content.php?id=74113
Parliamentary Finance monitors irregularities in the final accounts: We will host the Office of Financial Supervision
Money and business Economy News – Baghdad The Parliamentary Finance Committee revealed the close hosting of the Federal Financial Supervisory Office and the concerned authorities to discuss irregularities monitored by the Committee in the final accounts for the years from 2012 to 2015.
A member of the committee, MP Dylan Eid al-Ghafoor, said that "the committee recently held a meeting chaired by the Chairman of the Finance Committee, MP Uday Awad al-Tamimi, to discuss the report of the draft law of the final accounts for the fiscal years 2012, 2013, 2014 and 2015, in preparation for submission to the second reading in the House of Representatives."
She added that "the discussions revealed the existence of a number of irregularities in those accounts, and as a result there will be hosting the Federal Office of Financial Control, to identify the irregularities monitored by the Committee and clarify them, in order to complete the project and present it to the House of Representatives and vote on it."
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Abdul Ghafoor explained that "the Finance Committee discussed the need to be a close hosting of the Office of Financial Supervision, to provide its observations on the existing violations, provided that in light of this, a report is prepared and submitted to the House of Representatives."
She said that "the report will be submitted to the Council for the purpose of discussing these irregularities within the Finance Committee, and then complete the procedures and vote on them within the House of Representatives."
On the delay of the final accounts, she explained that "there are years since 2012 until now did not discuss the final accounts," stressing that "this is contrary to the law and the law of financial management, as well as legal articles that oblige the government to submit the final accounts to the House of Representatives, and oblige the House of Representatives to discuss and vote on them."
She added that "there is a legal article within the Financial Management Law regulating this aspect, as well as the law of the Office of Financial Supervision and other regulatory laws related to the subject."
Abdul Ghafour said: "The Financial Management Law, the Ministry of Finance Law and the Financial Control Bureau Law are all laws related to the final accounts and the regulation of the financial affairs of the state."
She pointed out that "it is assumed that there is a final account for each budget, because the final accounts clarify how the money was spent, where it was spent, and the extent of commitment to the doors of the budget."
On the law of borrowing, Abdul Ghafour explained that "the objection expressed by the Finance Committee is not related to the law of borrowing itself, but to the project or proposal that exists within the Committee and the need to study before proceeding with it."
She added that "the subject needs to be studied from and studied for the financial feasibility, which was discussed by the Finance Committee," noting that "any borrowing requires knowing the actual need of the state, how to pay it, the size of the financial obligations that will result, and whether the budget can bear these obligations."
She stressed that "the committee discussed the subject and asked to prepare a clear and integrated financial study before proceeding with it https://www.economy-news.net/content.php?id=74107
Volkswagen, Mercedes And BMW Continue To Lose To Global Rivals
Money and business Economy News - Follow-up Germany’s top three automakers continued to lose market share to global rivals in the first half of this year, according to an analysis by consulting firm EY.
The combined total revenue of Volkswagen, Mercedes-Benz and BMW fell to about $325 billion (€284 billion), down 2.9% from a year earlier, EY reported.
In contrast, the other 19 global car groups surveyed by EY recorded a revenue increase of 3.6%, according to the German news agency DPA.
According to the data, this represents the third consecutive decline in revenue for the first half of German automakers.
According to EY’s analysis, 15 car companies recorded an increase in revenue, while the three German groups came in 16th, 17th and 19th, and Tesla achieved the strongest growth rate, followed by Suzuki and Geely.
The weakness of the German car industry is also reflected in profits, with earnings before interest and tax credits for German car manufacturers falling 19 percent to $14.9 billion (€13 billion) in the first half of the year