By John Lee.
Iraq's Council of Ministers (Cabinet) has set a 10-working-day limit for the audit of strategic, urgent, and high-value government contracts in Iraq.
According to the Prime Minister's Office (PMO), the rule applies to contracts exceeding IQD 1 billion (USD 763,000), with the Federal Board of Supreme Audit (FBSA) retaining its authority to conduct subsequent audits under existing legislation.
Regulatory bodies within the relevant entities will take over the completion of contracts currently under review by the Diwan Order Committee, to prevent delays to government contracting and projects.
A new pre-audit framework for government contracts has also been approved, introducing early coordination between contracting parties and oversight bodies from the contract preparation stage onwards.
According to the Prime Minister's Office, the measures include the adoption of a "Pre-Audit Guide for Government Contracts" and a requirement for early engagement between contracting entities and regulatory bodies at the contract documentation stage, to ensure observations are addressed before referral procedures are completed.
The FBSA is to classify contracts by nature, value, urgency, and risk level, and to establish binding timeframes for completing pre-audit reviews for each category.
(Source: Prime Minister's Office)
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