Which of the following statements about the PAC is true? It consists only of government ministers. It is responsible for creating the national budget. It reviews and audits government financial transactions. It has no role in fiscal oversight.
Question
Which of the following statements about the PAC is true?
It consists only of government ministers. It is responsible for creating the national budget. It reviews and audits government financial transactions. It has no role in fiscal oversight.
Solution
The statement "It reviews and audits government financial transactions." is true about the Public Accounts Committee (PAC). The PAC is a committee of selected members of parliament, tasked with auditing the revenue and the expenditure of the government. It does not consist only of government ministers, it does not create the national budget, and it certainly has a role in fiscal oversight.
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