ALGIERS- The Public Economic Companies are subject to the control of the Court of Auditors, but in a different way than the administrative entities, which are subject to public accountability, Chair of the Court said Monday in Algiers.
These "companies are subject to the control of the Court of Auditors, in conformity with Article 192 of the Constitution, which provides for that the Court of Auditors is tasked with monitoring ‘the State’s market capitals’," he told APS.
The "control of the companies, however, doesn’t involve their finances, the presentation of the accounts and their clearance in the same manner than the administrative entities, which are subject to public accountability," he added.
In this regard, Benmarouf stressed that the revenues of the public commercial companies are regarded as private funds. Public funds are resources emanating from the Public Treasury in the benefit of public administrations, besides the subsidies granted to the public economic companies.
According to him, the finance of public companies, such as Group Sonatrach, is private the oil group is a commercial company despite its public capital.
Created in 1976, the Court of Auditors ensures the regular and efficient use of public funds, promotion of transparency in the management of corporate finance and consolidation of the fight against fraud. It is composed of 170 magistrates and 45 financial auditors.
Out of 10,000 public accounts in Algeria, the Court examines annually 600 accounts at its eight national chambers and nine territorial chambers.
The accounts of the ministries are annually examines under bill of the budget reform while the accounts of the local authorities are examined every three years.
The Court annually examines and clears accounts of the 600 communes. After three year period, the number of the examined communes’ accounts reached 1,541.
In the aftermath of the examination of the public funds, the Court drafts an annual report and a report on the budgetary reform